Petroferm acquires Siltech.FERNANDINA BEACH, Fla.--(BUSINESS WIRE)--June 3, 1997--Petroferm Inc. today announced an agreement to acquire the specialty chemical A Specialty chemical is a chemical produced for a specialized use. They are produced in lower volume than bulk chemicals, of which petrochemicals, made from oil feedstocks, are the most common. However, both are produced in a chemical plant. company Siltech Inc. of Norcross, Ga. Terms were not disclosed, as both companies are privately owned. By acquiring Siltech, Petroferm diversifies its technology portfolio beyond its industrial cleaning agents and petroleum-related products, while boosting its core strength in surface science. Siltech was founded in 1989 and presently manufactures and markets a line of specialty products for a broad range of consumer and industrial applications. These include such diverse uses as personal care products and textile fiber surface treatments. "Siltech will continue to focus on its current applications with proprietary silicone-based compounds and geurbet alcohol derivatives," said Dr. Michael Hayes Michael Hayes may refer to:
Siltech will maintain operations as a separate company with offices and manufacturing facilities in Norcross. Siltech founder Tony O'Lenick will continue as president and will report to Petroferm president Geoffrey Cross. The existing Siltech staff will remain with Siltech in Norcross while Petroferm's laboratory in Florida will be expanded immediately to undertake a broad program of research and applications development work using the proprietary capabilities secured in the Siltech acquisition. Siltech designs functionally unique molecules based on its proprietary capability to modify traditional hydrophilic hydrophilic /hy·dro·phil·ic/ (-fil´ik) readily absorbing moisture; hygroscopic; having strongly polar groups that readily interact with water. hy·dro·phil·ic adj. and hydrophobic hydrophobic /hy·dro·pho·bic/ (-fo´bik) 1. pertaining to hydrophobia (rabies). 2. not readily absorbing water, or being adversely affected by water. 3. compounds with silicone and flourochemical moleties. These hybrid molecules provide the proper balance of hydrophilic, lipophilic lipophilic, adj/n the ability to dissolve or attach to lipids. lipophilic (lipōfil´ik), adj 1. showing a marked attraction to, or solubility in, lipids. 2. , hydrophobic and lipophobic properties for optimum performance in a broad range of sophisticated applications. Siltech holds the rights to more than 50 patents in a number of commercially significant areas. Petroferm is a specialty chemical company based in Fernandina Beach. The company develops and markets environmentally friendly Environmentally friendly, also referred to as nature friendly, is a term used to refer to goods and services considered to inflict minimal harm on the environment.[1] products and technologies for cleaning applications in the electronics, precision parts manufacturing and asphalt asphalt (ăs`fôlt, –fălt), brownish-black substance used commonly in road making, roofing, and waterproofing. Chemically, it is a natural mixture of hydrocarbons. industries and has more than 500 customers in 30 countries. It also develops and markets petroleum-related products and technologies for oil field and industrial fuels applications. Internet users Internet user n → internauta m/f Internet user Internet n → internaute m/f may access more information on Petroferm at http://www.petroferm.com . CONTACT: Petroferm Inc., Fernandina Beach Geoffrey Cross, 904/277-5224 |
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