Effective immediately, the Plastic Additives, Benzoic Acid & Derivatives Business of Velsicol Chemical Corporation will be known as Genovique Specialties Corporation.
“The Plastic Additives, Benzoic Acid and Derivatives business has historically provided the market with environmentally friendly alternatives to traditional chemistries,” said Ross H. McMillan, CEO of Genovique Specialties. “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 three years ago when Velsicol was acquired by Arsenal Capital Partners. We initiated a vision to create a high growth, global, applications-focused, 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, TN 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.
“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,” Mr. McMillan noted.
Genovique Specialties will remain in Rosemont, IL. Its new web site is www.genovique.com.