Additives maker Addivant has opened a new corporate headquarters in Danbury, Conn.
The site officially opened with a ribbon-cutting on May 21. Previously, Addivant had been based in Middlebury, Conn.
The official opening came just over a year after the firm became an independent portfolio company of private equity firm SK Capital. Addivant was formed from the antioxidant and light-stabilizer business of Chemtura Corp., which SK purchased in late 2012.
“Our strong intellectual property portfolio…along with our new management provides a strong foundation for us to build upon,” CEO Peter Smith said in a news release.
Addivant was very active in its first 12 months as an independent unit. During that time, the firm added production capacity at plants in Saudi Arabia and South Korea and commercialized Polybond-brand polymer modifiers, which are based on renewable resources.
Earlier this year, Addivant announced plans to open a product development center in Shandong, China. The firm operates 11 plants and employs 500 worldwide.
