PennAkem acquires assets of Penn Specialty Chemicals
The chemical assets of US company Penn Specialty Chemicals have been acquired by PennAkem, a wholly owned subsidiary of the French Minakem Group.
The chemical assets of US company Penn Specialty Chemicals have been acquired by PennAkem, a wholly owned subsidiary of the French Minakem Group.
Minakem Group is also the owner of Minakem (France) and Chemtec Leuna (Germany) engaged in custom synthesis for the life science, and Minasolve (France) devoted to the development of building blocks.
Based in Memphis, Tennessee, US, with production facilities in the US and China, PennAkem becomes the global pre-eminent supplier of furfural and furan derivatives. The acquired Penn's business produces all of its products starting from furfural.
"We are delighted to add Penn's renewable resource chemistry to the Minakem Group under the name of PennAkem," said Frederic Gauchet, president of Minakem Group.