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Penn Specialty Chemicals, Inc. history
Penn Specialty Chemicals, Inc. company history timeline
Five young Quakers started the Pennsylvania Salt Manufacturing Company in 1850 with a small budget and a great deal of hope.
In 1856 the company reported its first profitable year.
Around 1856 the company started selling lye soap for household use, and the idea was an instant success.
In 1865 the company had begun to use some of its other raw materials.
The Department granted its first Ph.D. in 1891 and more than 150 in the half-century that followed.
Washington, DC: Government Printing Office, 1893.
Miss Flanigen would earn her doctorate at the University of Pennsylvania in 1906 and became a professor of chemistry at Mount Holyoke College.
Smith would rise to Director of the Chemistry Laboratory and in 1910 would be appointed the thirteenth Provost of the University, a position he would hold for twenty years.
History of the University of Pennsylvania 1740-1940.
The original production facilities in Memphis, Tennessee USA were built by the US Government in 1943 and operated by Quaker Oats.
In 1947 Pennsylvania Salt called on its shareholders to support a share issue plan for a $7.5 million facility expansion program.
By 1950 Pennsylvania Salt was experiencing a faster rate of growth than before the war.
Tuttle was no stranger to the company; he had first arrived at Pennwalt in 1951, six years before Drake was named president.
Beale's diversification policy was continued by William P. Drake who was appointed chief executive officer in 1955.
In 1960 Pennsalt had only a single chlorine and caustic plant in Mexico, but with the acquisition of Sharples, Pennsalt inherited plants in England, France and Germany.
Drake's interest in quality rather than quantity made 1964 a notable year in terms of research and development.
In 1981 Tuttle began a restructuring program that focused on diversifying the company in "leadership areas." What this meant was that the company began divesting itself of some of its less profitable subsidiaries.
In 1982 the chemical operations were 60% of the company's $1.06 billion sales.
In 1984 the pharmaceutical division earned only $109 million.
In 1999, Great Lakes sold the facility assets to a private equity group which named the new company Penn Specialty Chemicals, Inc.
In 2008, the facility assets were sold to its present owner, the Belgium-based group, Minafin Sprl.
In 2008, the majority of the assets of Penn Specialty Chemical, Inc., was purchased by the Minafin Group and Pennakem, LLC was established.
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Penn Specialty Chemicals, Inc. competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Coleman Natural | 1875 | $410.0M | 2,300 | - |
| Bumble Bee Seafoods | 1899 | $177.1M | 500 | 19 |
| Eagle Bridges | - | $3.0M | 5 | - |
| Ach Food Companies | 2013 | $1.0B | 3,500 | 10 |
| GMP | - | $30.0M | 200 | 7 |
| Dunmore | 1975 | - | 180 | - |
| Continental | - | $48.0B | 232,023 | 302 |
| AMFINE CHEMICAL | - | $83.0M | 125 | 2 |
| Franke Group | 1978 | $200.0M | 10,500 | 3 |
| Associated Materials Group, Inc. | 1947 | $3.1B | 3,000 | 18 |
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