Midland, MI - September 19, 2007
The Dow Chemical Company announced today that it will acquire Danish company Edulan A/S, an independent polyurethane (PU) systems house specializing in rigid foam and elastomer technologies. The deal, which is subject to regulatory approval, will expand Dow Polyurethane Systems, a business unit within Dow Polyurethanes, significantly enhancing its activities in northern Europe by strengthening its presence in Scandinavia and across the Nordic region.
In addition to Edulan's business and production facility in Denmark, Dow will also acquire rights to all of its rigorously formulated and field-tested systems, which can be further developed into tailored solutions.
"This acquisition continues our strategy of patient, disciplined investment to grow our Performance businesses in a way that will bring significant value to our customers and create long-term opportunities for Dow," said Juan Antonio Merino, general manager, Dow Polyurethane Systems. "Edulan not only offers us an excellent position in northern Europe, it also expands our portfolio of PU systems technology, helping us to provide our customers with solutions that are tailor-made to their very specific need."
Edulan sells a broad array of polyurethane systems, mainly into the rigid foam market, as well as elastomers for specialties applications. By establishing a base in Denmark, Dow Polyurethane Systems will be well positioned to meet customer demand for customized polyurethane systems in the Nordic countries, as well as capture emerging demand in the growing economies of Estonia, Latvia and Lithuania.
According to Merino, Dow Polyurethane Systems has been aggressively pursuing growth opportunities and strengthening its global portfolio through a combination of strategic acquisitions and joint ventures. The business formed a joint venture with a Russian market leader in PU systems, Izolan, in August 2006. And in May this year, Dow acquired British Vita's U.K.-based polyurethane systems business, Hyperlast Limited - now operating as Dow Hyperlast* - which specializes in innovative spray cast elastomers for the marine, engineering resin, oil and gas pipeline and automotive industries.
About Dow Polyurethane Systems
Dow Polyurethane Systems, a business within Dow Polyurethanes, is a global leader in the development and formulation of fully formulated polyurethane systems for a broad range of applications and is focused on providing innovative, tailor-made solutions to customers world-wide. The business manufactures and markets custom formulated rigid and semi-rigid, flexible, integral skin, and microcellular polyurethane foams and fully formulated systems as well as elastomers, sealants, coatings and binders. These products are used in applications ranging from construction, automotive, appliance, furniture and shoe soles to decorative molding and athletic
equipment. Focused on meeting the specific needs of customers in their local geographic region, Dow Polyurethane Systems operates a global network of 24 systems houses, supported by two research and development centers. www.pusystems.com.
About Dow
About Edulan A/S
Edulan is an independent system house founded in 1974. Based in Aarhus, Denmark, Edulan is focused on the European market through a subsidiary in England and through agents in other countries. Edulan's vision is to develop and deliver polyurethane systems at the best cost/performance ratio in the industry. Through teamwork and know-how Edulan aims at being a reliable partner for customers in a broad array of polyurethane applications. www.edulan.com
* Dow Hyperlast is a trading name of Hyperlast Limited, with Registration Number 2947247, having its Registered Office at Diamond House, Lotus Park, Kingsbury Crescent, Staines. TW18 3AG, United Kingdom.
For Editorial Information:
Myra Dean
The Dow Chemical Company
1-989-638-6969
