BASF makes acquisition in “attractive” TPU market
09/12/2014
On announcing the development, BASF said it wanted “systematically” to pursue growth “in the attractive TPU market”. Its president for performance materials, Raimar Jahn, commented: “It is a valuable addition to our existing TPU portfolio, strengthening our manufacturing footprint in Asia.”
The company went on to say that it views Taiwan Sheen Soon’s TPU business as complementary to what BASF already does in this segment, specifically in TPU extrusion as well as injection moulding grades for various segments including footwear. As an example of TPU application in the footwear segment it mentioned the Energy Boost running shoe from adidas, made with expanded TPU, which BASF markets under the name Infinergy.
Becoming an integrated solutions provider for TPU and TPU adhesives will enhance its value proposition to customers, BASF said.
The acquisition is expected to close in 2015, pending necessary internal and external approvals. The integration will take effect in the course of 2015. The parties have agreed not to disclose financial details of the agreement.
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