Home / Knowledge / News / Textiles / Kanoo-Elastogran to establish polyurethane system house in Abu Dhabi
Kanoo-Elastogran to establish polyurethane system house in Abu Dhabi
28
May '08
BASF is strengthening its business with polyurethane (PU) customers in the Gulf region. The BASF subsidiary Elastogran and the Kanoo Group have agreed to create a joint venture (Kanoo 51%, BASF/Elastogran 49%) under the operational lead of Elastogran.

This joint venture will acquire the polyurethane business of Multi Chemical Est. in Abu Dhabi from the Al Hamid Group by end of May 2008.

The joint venture and Al Hamid have agreed to not disclose the purchase price. The closing of the transaction is subject to approval by the relevant authorities.

With its approximately 20 employees Multi Chemical Est. achieved as part of the Al Hamid Group a turnover of around $20 million in the PU business in 2007. Founded in 1995, the company is one of the leading system houses in the region.

In a next step, the partners plan to construct a new polyurethane system house in Dubai Industrial City. Construction is to commence in mid-2008. The production of PU systems by the joint venture will be concentrated there as of 2010.

“With the acquisition of the polyurethane business from Multi Chemical Est. we have created ideal conditions for our success in the strongly growing market of polyurethane applications in the Arabian Peninsula,” said Dr. Uwe Hartwig, Group Vice President of the regional business unit Polyurethanes Europe.

“We will strengthen existing customer relationships and consistently implement our worldwide proven strategy of locally operating customer-oriented system houses.

Through its engagement in the Gulf region, BASF is strengthening its global network of more than 30 polyurethane system houses.”

“We are happy to continue and expand our cooperation with BASF into the polyurethane segment offering innovative, valuable and highly customized PU Systems,” said Mishal Hamed Kanoo, Deputy Chairman of The Kanoo Group, whose company has been a joint venture partner of BASF in the United Arab Emirates (UAE) since 1970.

Must ReadView All

Information Technology | On 28th Mar 2017

Intex Consulting signs partnership with Kawan Era Baru

Germany based Intex Consulting GmbH has entered into a strategic...

Courtesy: Kraig Laboratories

Textiles | On 28th Mar 2017

Kraig gets certificate for silk production in Vietnam

Kraig Biocraft Laboratories, Inc., a leading biotechnology company...

Courtesy: Creora

Textiles | On 28th Mar 2017

Hyosung holds Creora workshops in China, HK & Taiwan

South Korean specialty fibre producer Hyosung held a series of...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search