BASF announced its acquisition of ITWC, based in Malcom, Iowa. ITWC specializes in cast elastomer polyurethane systems and polyester polyols. Financial details of the transaction were not disclosed.

With more than 80 employees including business management, manufacturing, R&D, sales, and administrative functions, ITWC operates sites in Malcom, Iowa and Riverside, California. BASF is acquiring the assets of ITWC, including those obtained during ITWC's acquisition of Hydroseal Polymers, Riverside, California, in November 2010.

CDI Global, an international company search firm specializing in mergers, acquisitions and joint ventures, assisted in negotiating the transaction.