ORANGEBURG, N.Y.--Japan's Daikin Industries Ltd. has bought fluoroelastomer compounder Cri-Tech Technologies L.L.C., which in turn has opened a compounding and formulating unit in China.
Tokyo-based fluorochemical producer Daikin acquired the unit through its U.S. subsidiary, Daikin America Inc. of Orangeburg, N.Y., from Immix Technologies L.L.C., which continues to own and operate silicone elastomer compounder Cri-Sil Silicone Technologies L.L.C. in Biddeford, Maine.
Terms of the transaction were not disclosed. Daikin said the acquisition is in line with its strategy to provide value-added compounding services. "Cri-Tech's continuing commitment to (fluoroelastomer) formulating and compounding excellence fits perfectly into this strategy and complements Daikin America strengths in FKM technology," Daikin said.
Daikin America will continue to supply its complete line of Dai-El fluoroelastomer products to its customers in North America, while relying on Cri-Tech to formulate, compound, and supply custom FKM compounds.
Cri-Tech, which will operate now as Cri-Tech Inc., runs a fluoroelastomer compounding plant in Hanover, Mass. The firms did not disclose details of the Chinese venture other than to say it would be operational starting next year.
Earlier story from ERJ (5 October)