FAR Chemical to expand Florida site
FAR Chemical is to expand its facility at Palm Bay, Florida. This is being done in respond to strong demand in end markets such as pharmaceuticals, coatings, adhesives, sealants, composites and flavours and fragrances. The company, which did not detail the amount being spent, also said that it “is benefitting from a focus on more secure, domestic supply chains for these raw materials, and recent investments by new ownership”.
FAR specialises in complex fine and speciality chemicals like brominated compounds, organometallics and pyrophoric materials, and also distributes trimethylchlorosilane. It has particular expertise in handling challenging chemicals, such as bromine, chlorine, reactive compounds and corrosive compounds.
In 2018, CPS Performance Materials, a subsidiary of private equity firm Arsenal Capital Partners, acquired FAR and merged it with its speciality chemicals division. CPS subsequently invested to increase capacity at Palm Bay by 40% and to add specialised equipment and personnel in order to move to 24/7 operation. FAR expects to increase employment levels by 50% this year.
“As we continue to build our Specialty Chemicals business, we will not only be expanding capacity, but also adding new capabilities necessary for the increasingly specialised needs of our customers”, said Jeremy Steinfink CEO of CPS. “This will include equipment to process higher volumes of halogenated and organometallic compounds.” CPS also owns Cyalume Chemical Light, the world leader in chemical illumination, and has two other sites in the US and one in France.