“Our strong intellectual property portfolio of innovative, proven technologies, along with our new management provides a strong foundation for us to build upon,” said Peter Smith, CEO, Addivant. “We’ve made significant progress in 12 short months, and have become a respected standalone company that is growing and innovating through investments in production capacity, new products and specialized expertise. We are well positioned for future success, and will continue to serve our customers as a long-term strategic partner and solutions provider.”
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In a short timeframe, Addivant has accumulated an impressive list of milestones:
· May 1, 2013 – Sale to SK Capital is finalized and a new corporate identity is announced
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· May 9, 2013 – Addivant commercialized POLYBOND® polymer modifiers derived from renewable resources
· Feb. 11, 2014 – Phase 1 of a capacity expansion of the company’s phosphite antioxidants production in Pyongtaek, South Korea, is completed
· March 18, 2014 – Phase 1 of a capacity expansion of the company’s hindered phenolic antioxidants production in Al Jubail, Saudi Arabia, is completed
· May 21, 2014 – New headquarters in Danbury, Conn., opens
In the coming months, Addivant plans to announce innovative new products and technologies, begin the next phase of its capacity expansions in Korea and Saudi Arabia and, in August, open its first customer formulations center in Shangdong, China.
Addivant is a global supplier of antioxidants, antiozonants, intermediates and inhibitors, polymer modifiers, and light stabilizers for the automotive, packaging, consumer durables, electrical/electronics, building & construction and agriculture sectors. As the only manufacturer to market all major families of stabilizers, Addivant offers the widest range of performance-based polymer additives in the industry. Addivant is committed to continued innovation to meet customers’ growing demand for lighter, stronger, safer and more cost-efficient and environmentally responsible products.
About Addivant™
Addivant™ is an innovator in the field of polymer additives, developing customized solutions that provide customers enhanced application performance, safe handling and reduction in cost of use. The company is recognized industry wide for its extensive portfolio of specialty additives including antioxidants, light stabilizers, rubber additives, polymer modifiers, metal deactivators, polymerization inhibitors and intermediates. Addivant is an international company, with 11 plants on five continents, as well as research, manufacturing and sales facilities around the globe. Addivant maintains its global headquarters in Connecticut, USA, with regional headquarters in: Al Jubaïl, Saudi Arabia; Basel, Switzerland, and Shanghai, China. Addivant is an independent portfolio company of SK Capital. Visit www.addivant.com for more information.
About SK Capital
SK Capital is a private investment firm focused on the specialty materials, chemicals and healthcare sectors. The firm has deep experience in and knowledge of Addivant’s products and end markets gained through previous and current portfolio companies in the polymers, plastics and associated additives sectors. Located in New York, NY and Boca Raton, FL, the firm is currently investing from SK Capital Partners III, L.P. a $500 million fund of committed capital. Its portfolio companies generate revenues of over $7.0 billion annually and employ more than 8,700 people. Visit www.skcapitalpartners.com for more information.
Addivant™ is a trademark of Addivant.
POLYBOND® is a registered trademark of Addivant.
