MOUNT LAUREL, NJ (March 3, 2008) – PMC Group, Inc. announced it has completed the purchase of Chemtura’s global oleochemicals business. The company, which generated revenue of approximately $175 million in 2007, will operate under the new name PMC Biogenix Inc. The transaction strengthens PMC Group’s position as a key player in the global specialty chemicals and plastics industry.
With its primary manufacturing location in Memphis, Tennessee PMC Biogenix is one of the world’s premier manufacturers of oleochemicals and derivatives, including fatty acids, fatty esters and glycerin approved for pharmaceutical applications, glycerol esters, amides, bisamides, stearates and triglycerides. It is also the only North American producer of primary amides for the plastics additives market. Along with pharmaceutical, personal care and plastics, its products serve many markets and industries around the globe and they are utilized in diverse consumer and commercial applications.
“Our company’s success has been fueled by a steadfast commitment to technological advancement, innovation and personal relationships with our customers,” said Debtosh Chakrabarti, PMC Group’s President and Chief Operating Officer.
“Combining these commitments with the well-known brands and reputation of superior quality of Chemtura’s Oleochemicals business will result in powerful benefits for our customers, our organization, and the industry as a whole. We believe that the increased use of renewable chemicals is a sustainable trend and will be an exciting platform for growth,” he concluded.