World's leading chemical company BASF (BASFY.PK) Tuesday announced that it has completed the acquisition of Maicom, Iowa-based ITWC Inc in an effort to strengthen its polyurethane business in North America.
BASF, however, did not divulge the financial details of the transaction.
ITWC Inc specializes in cast elastomer polyurethane systems and polyester polyois. The company employs more than 80 employees and has operations in Maicom, Iowa and Riverside, California.
"With this acquisition, BASF further solidifies its position as a leading solutions provider for polyurethane systems and enhances its global market position with cast elastomer technology for a wide range of industries," said Raimar Jahn, President of BASF's Polyurethanes division.
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