Texas-headquartered Huntsman Corporation has completed the acquisition of Tecnoelastomeri, a manufacturer and marketer of methylene diphenyl diisocyanate (MDI) based hot-cast elastomer systems and processing machines, based in Modena, Italy. 2014 sales revenue for Tecnoelastomeri was approximately US$12 million. The purchase price was not disclosed.

Hot-cast polyurethanes are used in many downstream applications, including bumper pads, coated conveyor belts, gears, rollers and wheels. These applications are used in the automotive, rail, oil and gas, mining and steel industries among others. Huntsman has supplied MDI for these applications for many years.

Tecnoelastomeri markets its diverse product line globally under a number of well-known trademarks, including Tecnoelastomeri engineering urethane elastomers, Tecnothane polyurethane systems, Rithane specialty polyurethane systems, Castech polyurethane machines and Linthane specialty thermoplastic urethanes (TPUs).

Commenting on the acquisition, Tony Hankins, President of Huntsman’s Polyurethanes division, said: “We are very pleased with the acquisition of Tecnoelastomeri. The addition of its highly experienced team to our Polyurethanes business will significantly strengthen our offer to the growing, downstream hot-cast elastomer markets globally.”

“In the past few years we have strengthened our downstream capabilities and now have more than 25 facilities worldwide. These investments reflect our confidence in the long-term growth prospects for MDI-based urethanes.”

Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated chemicals with 2014 revenues of approximately US$13 billion including the acquisition of Rockwood’s performance additives and TiO2 businesses. It operates in more than 100 manufacturing and R&D facilities in more than 30 countries and employs approximately 16,000 associates within five distinct business divisions.