Air Products Sells MDI Business to ITWC
February 2, 2004
Air Products and Chemicals, Inc. has announced the sale of its MDI (methylene-diphenylene isocyanate) Business to ITWC, a Malcom, Iowa-based company that is a leading supplier of prepolymers, systems and equipment to the urethane industry. In the purchase, ITWC gains the MDI business, inventory and customer base for this product area from Air Products. The deal completes a relationship that began eight years ago when ITWC started producing all MDI offerings for Air Products. "ITWC had been of great assistance in expanding the product line we were offering with MDI systems," said Curtis D. Junge, global business manager for Polyurethane Specialty Products at Air Products. "The sale of this business is consistent with our portfolio management strategy, and as we reviewed this product area, we decided for this process sensitive market that ITWC and its direct support would benefit Airthane product customers."