Air Products (NYSE:APD) today said it has completed the previously announced sale of the assets of its polyurethane pre-polymers business, marketed under the Airthane and Versathane tradenames to COIM USA Inc., a fully owned subsidiary of global polyurethane chemicals producer COIM SpA.
Included in the sale was Air Products' manufacturing facility in Paulsboro, N.J. Terms of the agreement are not being disclosed.
"We are pleased to complete this sale of our pre-polymers business to COIM USA," said Bob Thomas, global business director, Performance Materials, for Air Products. "Air Products will continue to focus on the global growth of our Dabco and Polycat polyurethane catalysts and surfactants, Versalink curatives and our new Innovathane and Ancarez ISO products for the Polyurea coatings and construction markets."
Polyurethane pre-polymers are used in many cast elastomer markets, such as industrial tires and wheels, printing rollers, cutting and metal forming blankets, and custom parts for dynamic performance and durability.