Dow to acquire EniChem's polyurethanes business
"We're very pleased with the acquisition of EniChem's polyurethanes business," says Bob Wood, president of the Dow business group that includes Polyurethanes and Polyurethanes Systems. "Not only does it reinforce our focus on global polyurethanes growth, it strengthens our portfolio by enhancing our European polyol, MDI and polyurethane systems presence, also giving us our first European source for TDI."
With the addition of EniChem's polyurethanes business, Dow expects to add approximately 118,000 metric tons of toluene-diisocyanate (TDI) capacity, 80,000 metric tons of methylene-diphenylene isocyanate (MDI) capacity, and 160,000 metric tons of polyols capacity to its global manufacturing capabilities. Dow will acquire EniChem's polyurethanes plants in Porto Marghera (Venice), Brindisi, Priolo (Siracusa, Sicily), Italy, and in Tertre, Belgium; systems houses operations in Cardano al Campo (Varese), Italy, Erstein, France, and Osnabrueck, Germany; and research facilities located at the Porto Marghera, Brindisi, Priolo and Tertre sites.
EniChem's polyurethanes and polyurethane systems products are used in a wide variety of flexible and rigid polyurethane foams, elastomers, adhesives and coatings. Some typical applications include furniture, footwear, mattresses, cushions, seats and other automotive applications, insulation foams for panels, etc. Sales revenue for EniChem's polyurethanes and systems business is approximately $500 million annually.
As a leading supplier of polyurethane raw materials, Dow offers one of the broadest lines of polyurethane products and systems in the industry. The raw materials are used in rigid foams, flexible foams, adhesives, sealants, coatings, elastomers as well as many other applications.
Dow is a leading science and technology company that provides innovative chemical, plastic and agricultural products and services to many essential consumer markets. With post-merger combined sales of $28 billion, Dow serves customers in more than 160 countries and a wide range of markets that are vital to human progress, including food, transportation, health and medicine, personal and home care, and building and construction, among others. Committed to the principles of sustainable development, Dow and its employees seek to balance economic, environmental and social responsibilities.
EniChem, an ENI Group company headquartered in Milan, Italy, is a leader in the European petrochemical industry. In 2000, EniChem registered annual sales of approximately 6,000 million Euro. They employ approximately 13,000 people at 24 production sites around the world. Of these, 14 are located in Italy and 10 are located across Belgium, France, Germany, the United Kingdom, Hungary and the United States. As announced today, EniChem will purchase the 50% stake in Polimeri Europa, an olefin and polyethylene business, from Union Carbide that it does not already own. They also hold a 10% stake in QAPCO (Qatar). EniChem holds leadership positions in a number of core sectors including olefins and aromatics; intermediates; styrenics and elastomers; and once the transaction is completed, polyethylene.
For further information about Dow, visit www.dow.com . For more information about EniChem, visit www.enichemnet.com .
Source: The Dow Chemical Company
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