Petroferm Revenue and Competitors

Founded in 1981, Petroferm is a privately held manufacturer of specialty chemicals. In its early days, Petroferm was a biotechnology company focused on recovery, transportation and combustion of heavy hydrocarbons (crude oil). The "Fuel Services" business unit, Petroferm's oldest division, emerged from this initial work. The "Cleaning Products" business unit was also founded in the mid-1980's, with early work to replace hazardous cleaning solvents commonly used in manufacturing processes. Then the signing of the Montreal Protocol in the late 1980's presented a global opportunity for Petroferm scientists to use their expertise to formulate CFC-free cleaning products, leading to Petroferm's worldwide success in Electronics and Precision Cleaning industries. In the mid-1990's, Petroferm began a series of acquisitions that began with Siltech, manufacturer of specialty silicones, followed by Oleochemical derivatives manufacturer Calgene Chemical, and Hansotech, which sold natural waxes primarily to the Personal Care industry. These three companies today are the subsidiary Lambent Technologies, now based in Gurnee, IL, in a large surfactant manufacturing plant acquired from BASF Corp in 2003. In 1999, Petroferm acquired Banner Chemicals in the UK, and in 2004 divested Banner Chemicals, retaining ownership of Banner subsidiary Joseph Storey and Co., Ltd, a manufacturer of flame retardants and smoke suppressants. Today, the Company is organized into two divisions to best serve our customers and focus on target markets. The Industrial Products Division (Lambent Technologies and Joseph Storey) manufactures specialty ingredients for personal care, food, polymers, and lubricants. The Petroferm Products Division manufactures a wide variety of industrial cleaning agents (Cleaning Products) and solutions to aid in the combustion of heavy crude (Fuels Services).