BASF, Bahrain Firm Eye PU Systems JV

BASF says its Elastogran polyurethanes (PU) subsidiary and the Kanoo Group (Manama, Bahrain) have agreed to form a PU systems joint venture in Dubai. The jv, to be owned 51% by Kanoo and 49% by BASF with operational leadership by Elastogran, will acquire the PU business of Multi Chemical (Abu Dhabi) from the Al Hamid Group (Abu Dhabi) for an undisclosed price. The business, a leading regional supplier of rigid PU systems to industries that include construction, and oil and gas, reported sales of $20 million last year and employs 20. BASF and Kanoo plan to...

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