Polyurethane systems and special elastomers company Elastogran GmbH has announced that it plans to acquire the polyurethane systems business of the American Chemtura Corporation, on January 1, 2006. This business is focused on supplying polyurethane systems for the footwear industry, especially for safety and working shoes (Witcothane). Included in the potential acquisition are Pesol products and Chemtura’s European polyester polyol product line (Fomrez). The acquisition does not include nor affect Chemtura’s global Adiprene and Vibrathane business or the North American-based Fomrez polyester polyol business.

The sales agreement has already been signed by both parties and the transaction will be completed subject to the approval of the competent monopolies and merger control commissions. No financial details will be disclosed.

With this strategic acquisition we are securing our position as market leaders in polyurethane systems in Europe,” said Dr. Uwe Hartwig, member of the Elastogran managing board. The Crompton business ideally complements our existing polyurethane portfolio in the field of safety and working shoes, particularly in respect of our excellent customer cooperation.”

Elastogran is a member of the BASF Group. In 2004 it generated net sales of €1.53 billion (consolidated) together with a staff of approximately 1,800.