Indianapolis-based Vertellus Specialties Inc. has announced a big investment in a Michigan facility. The company says the plant improvements and new "leading edge" equipment will help it double alkane production capacity.
In February, the specialty chemical provider announced the acquisition of the Sodium Borohydride business from Dow Chemical Co. (NYSE: DOW). Vierellus also added U.K.-based Pentagon Chemicals. Chief Executive Officer Rich Preziotti says "as we integrate new assets, we continue to identify opportunities for our existing facilities to meet demand for specialized chemistries, including alkanes."
The company says its boosted interest in alkane is being driven by low domestic natural gas prices. It serves clients in bedding, textiles and construction industries. Alkanes are valued for their heat-regulation properties.