Industry News

Velsicol Chemical Business Re-branded as Genovique Specialties Corporation

Published on 2008-09-30. Author : SpecialChem

ROSEMONT, IL October 1, 2008 -- Effective immediately, the Plastic Additives, Benzoic Acid & Derivatives Business of Velsicol Chemical Corporation will be known as Genovique Specialties Corporation.

Ross H. McMillan, CEO, Genovique Specialties made the following comment: "The Plastic Additives, Benzoic Acid and Derivatives business has historically provided the market with environmentally friendly alternatives to traditional chemistries. We want to emphasize our focus on this part of business and its growing portfolio of applications-oriented products. The re-branding of the business as Genovique Specialties is the final stage of the culture shift that started 3 years ago when Velsicol was acquired by Arsenal Capital Partners. We initiated a vision to create a high growth, global, applicationsfocused, specialty chemicals company."

During the past three years the company has made a number of strategic moves to bring this vision to a reality. It closed its Chattanooga, Tennessee facility, shifting production to its Maryland and European plants to better meet the geographic demands of the markets and achieve the optimal manufacturing footprint. A joint venture was established in Wuhan, China to serve the growing demand for their products in Asia. The research, sales and marketing teams were strengthened by the addition of experienced personnel with expertise in the specific market sectors on which Genovique will be focusing. As a result of these efforts, the company has launched 8 new products and has applied for 11 patents in the past 2 years.

Ross H. McMillan, stated, "We will continue to respond to the market's need for more environmentally-friendly, cost-effective, and sustainable specialty additives. Everyone in our company is committed to bring all our resources together to support this goal."

Genovique Specialties will remain in its corporate headquarters in Rosemont, Illinois and contact information will remain the same.

Arsenal Capital Partners

Arsenal Capital Partners is a leading New York-based private equity firm that invests in middle market specialty industrial, healthcare and financial services companies.

Velsicol Chemical Corporation

Velsicol Chemical Corporation, owned by Arsenal Capital Partners, is the leading producer of Hexachlorocyclopentadiene, an intermediate used in agriculture products and Chlorendic Anhydride used as a flame retardant in reactive coatings.

Genovique Specialties Corporation

Genovique Specialties Corporation, owned by Arsenal Capital Partners, is a manufacturer of Benzoic acid, Sodium Benzoate and Specialty Esters. Their headquarters are in Rosemont, IL with manufacturing facilities in Chestertown, MD, Kohtla-J?ve, Estonia and Wuhan China.

Source: Genovique Specialties

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