as July 2008

Acquisition of Penn Specialty Chemicals


Buy-Side Advisor

Trumont International

Trumont serves as buy-side advisor to Minakem on its acquisition of Penn Specialty Chemicals (Memphis, TN)

Minafin, Minakem Group's holding company, and Penn Specialty Chemicals Inc. ("Penn") are pleased to announce that Penn's chemical assets have been acquired by PennAkem, a wholly-owned subsidiary of France's Minakem Group, for an undisclosed amount. Based in Memphis, Tennessee (USA) with production facilities in the USA and China, PennAkem becomes the global preeminent supplier of furfural and furan derivatives, including furfurylamine. Known as the "Furan Chemistry Specialists", Penn's business produces a range of products starting from furfural. Furfural is a renewable resource that comes primarily from agricultural byproducts such as corn cobs and sugar cane bagasse.

July 4, 2008