What is KumiPetrochemical? – An Interview
Posted September 05, 2018 08:08:16A chemical company that made a fortune in the past few years has gone public.
Kumi Petrochemical has raised $3.6 billion in venture capital to grow its manufacturing, chemicals and products business in the United States.
KumiPetroply is also seeking funding from investors to expand its operations to Mexico, South America and Europe.
The company’s shares rose 7.6% in early trading.
The company made a big splash in 2016 when it bought an Israeli company that makes a potent synthetic pesticide called N-methyl-D-aspartic acid (NMDA).
The company made it a cornerstone of its business.
Its shares surged after N-MDA was discovered to be toxic to humans and wildlife.
Kuminol was acquired by Dow Chemical.
Kumho Petrochem is a privately held company, but it was founded in 2012 by former executives of a pharmaceutical company.
KumoPetrochem manufactures and sells a range of chemicals, including benzene and methanol, for pharmaceuticals and petrochemicals, according to the company.
Kuminol is made by Dow, which makes the N-methanol and metholylacetone compounds used in veterinary anesthesia.
Dow also produces the methanopropanol, a synthetic version of the compound that is used in petro-chemicals.
The methanos are used in a variety of medical products and cosmetics.
KumoPetropy made a splash in the U.S. market in 2014 when it acquired a U.K. firm called Methanol and Methano and a German firm called Tungstah, both of which manufacture benzene derivatives.
In 2016, the company was valued at $8.2 billion.
The U.N. Food and Agriculture Organization has approved NMDA as safe for humans.
KumhoPetroChem also makes chemicals that can be used to make the synthetic pesticide N-ethyl-D, which is used to kill mosquitoes and other arthropods.
It also makes an insecticide called dibutyl sulfoxide that is intended to kill insects.KUMHO PETROCHEMICALS’ HISTORYKumi Petroply’s stock has gained more than 9% in the last year, making it one of the best performing stocks in the S&P 500.
In 2017, the stock was valued more than $9 billion, according a Bloomberg Billionaires Index.
The New York Times reported that Kumi is owned by Russian billionaire Vladimir Putin, who is a close friend of President Donald Trump.
Trump has repeatedly praised Putin and his country’s actions in Ukraine.
KUMHO’S ANSWERSKumiProtech has made headlines in the US with its products, which include a new insecticide that kills insects, the synthetic drug n-methyld-asparacene (N-MDEA) and its insecticide-resistant, or N-MERV, bug spray.
The insecticides are available in Europe, Asia and the United Kingdom.