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

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Ashok Desai
Bombay Textile Research Association

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X