PennAkem, a fully owned subsidiary of Minakem Group Acquires Assets of Penn Specialty Chemicals, Inc.
Minafin, Minakem Group's Holding Company and Penn specialty chemicals, Inc. (Memphis, Tennessee USA) announced that Penn's chemical assets have been acquired by PennAkem, a wholly-owned subsidiary of the French Minakem Group.
Based in Memphis, Tennessee USA with production facilities in the USA and China, PennAkem becomes a global supplier of furfural and furan derivatives. Known as the "Furan Chemistry Specialists", the acquired Penn's business produces all of their products starting from furfural. Furfural is a renewable resource that comes primarily from agricultural by-products such as corn cobs and sugar cane bagasse. PennAkem performs various chemistries with furfural to generate downstream value-added products that are marketed and sold globally to the pharmaceutical, agricultural chemical, petrochemical, and plastic industries.
"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. "PennAkem brings us a very exciting family of green building blocks based on agricultural by-products not consumed in the food chain." "These new building blocks will greatly enhance our synthesis offerings and are an alternative to petroleum-based chemistry."
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Topic world Synthesis
Chemical synthesis is at the heart of modern chemistry and enables the targeted production of molecules with specific properties. By combining starting materials in defined reaction conditions, chemists can create a wide range of compounds, from simple molecules to complex active ingredients.
Topic world Synthesis
Chemical synthesis is at the heart of modern chemistry and enables the targeted production of molecules with specific properties. By combining starting materials in defined reaction conditions, chemists can create a wide range of compounds, from simple molecules to complex active ingredients.