End of 2009 PolyOne also acquired the Healthcare engineered materials specialist New England Urethane, Inc. in a US$ 12 million deal7. Lubrizol, which acquired the Dow's TPU business in 2008, also acquired the Spanish Merquinsa company end of 2011, a family-owned TPU European leader with strategic assets in Asia too. And besides M&A activities from TPU manufacturers and compounders sector, ones should also pay attention to strategic moves from urethane raw materials sector too. Last year, the Japanese Mitsui Chemicals and Itoh Oil Chemical announced a Joint Venture Agreement with Indian Jayant Agro-Organics to establish a company producing bio-polyols. In its official statement the JV announcement clearly states Itoh Oil Chemical targets the expansion of its TPU operations8.