BASF and Bahrain Firm Create PU Systems JV in Dubai

BASF says its Elastogran polyurethanes (PU) subsidiary and the Kanoo Group (Manama) 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 Est. (Abu Dhabi) from the Al Hamid Group, a business group based in the United Arab Emirates, for an undisclosed price. That operation, a leading regional supplier of rigid PU systems to industries that include construction and oil and gas, reported sales of $20 million...

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