US renewable coatings and chemicals company Eco Safety Products (ESP) has announced its acquisition of speciality chemical manufacturer Soy Technologies to expand its bio-based coatings and methylene chloride alternatives.
Following the acquisition, which includes all Soy Technologies’ remaining brands, existing products would be manufactured at ESP’s facility in Phoenix, Arizona, the company said in its 28 June statement.
“This is a… strategic fit with our growing bio-based chemical technologies used to make non-toxic, eco-friendly paints, stains, sealers, coatings and cleaning chemicals,” ESP founder and CEO John Bennett said.
“With the emerging demand for all industries to adopt safer chemistry, this acquisition allows us to produce bio-based intermediates that can be added to various chemical formulations to improve their ecological profile and performance.”
According to its website, Kentucky-based Soy Technologies develops bio-based solvents and emulsions using soya-based chemistry.
The acquired operations include the bio-based methylene chloride-free SoyGreen brand, which is a paint, adhesive, coatings stripper line, the Soyanol brand, which is a bio-based coatings and chemical intermediate line, and SoyThin, which is a bio-based non-flammable paint thinner brand, Bennett said.
ESP anticipates growing opportunities to help other manufacturers to add bio-based chemical intermediate solutions to their formulas, he added.
Founded in 2004, ESP manufactures a range of bio-based paints, stains, sealers, coatings and speciality chemicals.