Illinois Tool Works Inc., Glenview, IL, has acquired the TRYMER polyisocyanurate (PIR) rigid foam business. The TRYMER plant is based in LaPorte, TX.
The agreement also includes a provision for Dow to exclusively supply ITW with extruded polystyrene (XPS) pipe insulation billets for the mechanical insulation market.
TRYMER will be a wholly owned business unit of ITW and part of the company's industrial packaging group. TRYMER will maintain its brand name and operate as a separate business.
TRYMER is an ideal strategic fit in our growing global insulation business," said Larry Keiner, vice president and general manager of ITW Insulation Systems. "The acquisition of TRYMER and the opportunity to supply XPS will broaden our mechanical insulation segment and enable us to offer customers a wide range of high quality products and solutions."
ITW Insulation Systems manufactures aluminum and stainless steel jacketing, sheets, elbows and accessory items under the Pabco/Childers brand name and perlite pipe insulation under the Temperlite brand name for applications in refineries, power plants, chemical facilities and LNGs. The company markets a broad range of products to insulation distributors/fabricators and global contractors.
With $16.2 billion in revenues, ITW is a diversified manufacturer of highly engineered components and industrial systems and consumables. The company has 825 business units in 52 countries.