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Article: Penn Takes on the PTMEG Leaders.(Statistical Data Included)
- Article from:
- Chemical Week
- Article date:
- May 3, 2000
- Author:
CopyrightCOPYRIGHT 2000 Access Intelligence, LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PENN SPECIALTY CHEMICALS (CONSHOHOCKEN, PA) IS ONE OF THE new generation of chemical firms made possible by private equity capital. The company, which has sales of approximately $250 million/year, was formed when former executives from Freedom Chemical, Lyondell Chemical, and Arco Chemical got together to acquire Great Lakes Chemical's furfural and furfural derivatives business, with financial backing from Mellon Ventures (Pittsburgh) (CW, July 7, 1999, p. 95).
Fred Rullo, former chairman and CEO of Freedom, and Brian McNamara, Freedom's former general counsel, assumed those tides at Penn. Robert Quinn, a former Lyondell executive, became president and COO. Jim ...