CP50: ISP Chemco Inc.
International Specialty Products Inc. develops, manufactures, and supplies specialty ingredients that enhance product performance. ISP serves over 6000 customers in more than 90 countries. Its customers represent a wide variety of industries including personal care; pharmaceuticals and oral care; food and beverage; coatings and adhesives; alginates; household, industrial and institutional cleaning; and agriculture. In 2003, ISP acquired Germinal S.A., a Brazil-based company that supplies the meat and dairy industry. In 2004, it announced the acquisition of Red Carnation Gums, a UK-based global gum ingredient supplier. The company also acquired Germany-based Biochema Schwaben, which has over 50 years experience developing and manufacturing preservatives and biocides. The company's array of quality biocides complements ISP's existing product line in this area. In Asia, ISP has entered into a distribution agreement with Mingtai Chemical of Taiwan.
President and CEO
Kumar was elected president, CEO, and a member of the board of directors of ISP on June 22, 1999, according to Frost & Sullivan. Prior to coming to ISP, Kumar was president and CEO of GAF Materials Corp., which is the worlds largest manufacturer of roofing products for residential and commercial buildings.
Senior Vice President of Marketing and Sales
Stephen Olsen was appointed senior vice president of marketing and sales in January 2006, according to Frost & Sullivan. Olsen joined ISP in September 2000 as senior vice president of Corporate Development and Strategy. He was named senior vice president of sales, North America and Global Marketing in August 2004. Olsen has been a director of ISP Chemco since June 2005.
Samuel J. Heyman
In 2003 Heyman, acquired the remaining 20% stake, which he did not already own, in ISP, for$10.30 in cash per share. Originally, in July 2002, Heyman made an unsolicited bid to acquire ISP for $10 in cash per share.
For the latest financial reports, visit: http://online1.ispcorp.com/en-us/media/pages/default.aspx