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Business

Minakem Acquires Furfural Maker Penn

July 14, 2008 | A version of this story appeared in Volume 86, Issue 28
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The French fine chemicals firm Minakem has acquired Penn Specialty Chemicals, a Memphis-based manufacturer of furfural and furan derivatives. Derived from agricultural by-products such as corncobs, furfural is used to make products for pharmaceutical, agricultural, and other markets. Minakem says the business, to be renamed PennAkem, is the world's number one supplier of furfural, furan, and derivatives such as methyltetrahydrofuran and tetrahydrofurfuryl alcohol.

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