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foremarkperformance.com

Stage

Acq - Fin | Alive

About Foremark Performance Chemicals

Foremark Performance Chemcials, formerly D.B. Western, is a technology-driven producer of formaldehyde and derivatives.

Foremark Performance Chemicals Headquarter Location

La Porte, Texas,

United States

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Foremark Performance Chemicals Patents

Foremark Performance Chemicals has filed 2 patents.

The 3 most popular patent topics include:

  • Chemical processes
  • Industrial gases
  • Acid gas control
patents chart

Application Date

Grant Date

Title

Related Topics

Status

2/11/2020

2/15/2022

Chemical processes, Thiols, V8SuperTourer drivers, Industrial gases, Aldehydes

Grant

Application Date

2/11/2020

Grant Date

2/15/2022

Title

Related Topics

Chemical processes, Thiols, V8SuperTourer drivers, Industrial gases, Aldehydes

Status

Grant

Latest Foremark Performance Chemicals News

INTERVIEW: SK Capital new CSO to ‘supercharge’ sustainability push in chemicals

Feb 22, 2022

SHARE THIS NEW YORK (ICIS)–SK Capital’s new chief sustainability officer (CSO) aims to supercharge the sustainability efforts of the private equity firm’s portfolio companies, bringing in a wealth of experience from her role at the American Chemistry Council (ACC). “As much as we talk about sustainability, it really is daunting for a lot of companies. One of the things I see as an opportunity for SK, especially within its portfolio of smaller and medium-sized companies, is to show that [this] is possible. This is not just the purview of the Dows and BASFs of the world,” said Anne Kolton, incoming CSO at SK Capital, in an interview with ICIS. “It is not only a cost but good business, and it makes your company more valuable. Showing and showcasing the achievements of companies in the SK portfolio can create momentum and an understanding that there can be real benefits beyond just reducing regulatory risk,” she added. SK Capital announced Kolton as its first CSO on 1 February. Kolton will start on 1 April 2022 after leaving her role as Executive Vice President, Communications, Sustainability & Market Outreach at the ACC. Along with developing communications and advocacy strategies for the ACC, she also led the trade group’s creation of a comprehensive sustainability program to support circularity, climate change, air, water, product safety and diversity and inclusion (D&I). SK Capital portfolio companies include nylon producer Ascend Performance Materials, specialty chemicals companies Archroma and SI Group, pharmaceutical intermediates firm Sequens, specialty monomers and resins producer Deltech, plastics packaging company Lacerta, vinyls and plastics compounder GEON Performance Solutions, formaldehyde producer Foremark Performance Chemicals and butadiene (BD) producer TPC Group, among others. Total annual sales are almost $15bn. While each of the SK portfolio companies already have sustainability leaders, Kolton and SK Capital co-founder and managing director Barry Siadat plan for a wider and deeper push across the companies. DECARBONISATION PROGRAMS “We have significant decarbonisation programs underway in our various portfolio companies… We have also done quite a bit of recycling of plastics by acquiring businesses that have that ability where we can tag them onto our broader businesses. We are already using quite a bit of post-consumer and post-industrial materials,” said Siadat. “And making our customers’ businesses more sustainable – in water, air and energy – really has been a big focus to differentiate ourselves,” he added. Ascend Performance Materials in May 2021 announced a target of reducing greenhouse gas (GHG) emissions by 80% by 2030, but Siadat sees the company potentially achieving this by 2025 or earlier, supported by its proprietary technology internally called Phlogistin to abate nitrous oxide emissions at its Pensacola, Florida, integrated nylon 6,6 site. Nitrous oxide is a GHG and a byproduct in the production of adipic acid, a key feedstock for nylon 6,6. Implementation of this technology in Phase I reduced GHG emissions by 50% at the Pensacola site and Siadat expects Phase II, expected to be completed this year, to reduce these emissions in excess of 90%. Ascend is also in the process of using solar power at its Chocolate Bayou, Texas, facility, and building cogeneration units at its Decatur, Alabama, site. The cogeneration project replaces legacy coal boilers with three pairs of turbines and ancillary HRSG (heat recovery steam generation) systems. “The best way to reduce waste is not to produce waste, which is the goal of all these new technologies we have invested in – to improve our yields, improve recovery of waste, and that just generates good profits too. Many plans are underway already. When Anne comes in, I expect them to be supercharged,” said Siadat. TAILORED APPROACH While best practices will be shared, it will not be a one-size-fits-all approach for the SK Capital portfolio companies as they are quite diverse in operations. “There are a number of routes you can take to make businesses more sustainable and profitable, whether it is greater efficiencies to things that are more difficult like new emissions control technologies. Everything needs to be on the table and evaluated based on the value that it can provide to that particular company – and it will not be the same for everyone,” said Kolton. “It is taking a tailored approach while also leveraging the ability to learn across the portfolio and collaborate where appropriate. That will be my emphasis at the beginning,” she added. SUSTAINABILITY IN M&A STRATEGY Sustainability looms large in SK Capital’s acquisition strategy, as it seeks not only to buy sustainable businesses and technologies, but also apply its own technology and know-how to improve the sustainability profiles of the companies it acquires. In January 2021, SK announced the acquisition of US-based food packaging company Lacerta which uses post-consumer polyethylene terephthalate (PET) bottles among its feedstocks. Most of its packaging products are recyclable and can be made with 100% recycled content. In September 2020, Ascend Performance Materials acquired Italy-based Poliblend, which compounds post-consumer and post-industrial nylon, bringing recycling capabilities to the company. “We believe Poliblend’s capabilities can be effectively used across Europe and also translate across the world. It is exciting to have that skill set in the development of recycled or higher sustainability materials,” Ascend CEO Phil McDivitt told ICIS in 2020. Poliblend has 34,000 tonnes/year of polymer compounding capacity in Italy, and uses about 30% of plastics that are mechanically recycled from post-consumer and post-industrial waste. It produces engineered plastics based on virgin and recycled grades of polyamide 6,6, polyamide 6, polybutylene terephthalate (PBT) and polyoxymethylene (POM). ENABLING SUSTAINABILITY “It is in everyone’s best interest to have more sustainable businesses, particularly in our segment because chemicals and materials are used in 96% of all industrial production. We are the industry of industry. Not only can we get better, but we can enable customers to be better,” said Siadat. SK portfolio company Foremark Performance Chemicals also produces carbon dioxide (CO2) and hydrogen sulfide scavengers which remove these gases from oil and gas operations. Siadat calls Foremark a “carbon negative” business. “That is one of the reasons being in, and working with the chemical industry is so exciting – because it can have such a significant impact on sustainability, not just in the value chain but throughout society,” said Kolton. “And so it is a really exciting place to be, and to help lead and be part of this transformation – to see industry become more sustainable as it also helps others do the same,” she added. BROADER VIEW FROM ACC At the ACC, Kolton developed a good perspective on the different risks chemical companies face, as well as how to turn some of those risks into opportunities, she noted. “In some ways, being at a trade association with 170 member companies, looking across trying to help others learn from one another is a bit similar to having a portfolio of companies. It is on a different scale but a lot of the same principles apply,” said Kolton. “So it is about building consensus, trying to find ways for members to learn from one another, to maximise the impact and create that economy of scale where possible to have the biggest impact. A trade association prepares you pretty well to look across companies rather than having one point of view and set of objectives,” she added. From a business standpoint, sustainability should also be a key part of a company’s marketing strategy and growth plan, according to the executives. “It is a good marketing strategy, and we are gaining market share in the businesses that are pursuing this. It is important for our industry to think about sustainability not only as a cost, but as an opportunity,” Siadat said. Interview article by Joseph Chang READ MORE

  • Where is Foremark Performance Chemicals's headquarters?

    Foremark Performance Chemicals's headquarters is located at La Porte.

  • What is Foremark Performance Chemicals's latest funding round?

    Foremark Performance Chemicals's latest funding round is Acq - Fin.

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