| International Specialty Products (ISP) is recognized globally for developing, manufacturing, and supplying innovative specialty ingredients that enhance product performance.
With 160 years of experience, ISP serves over 6000 customers in more than 90 countries. Our 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. Our success is the result of innovative products, a strong research and development program, excellent customer service, and good relationships.
Our commitment to service is based on an in-depth understanding of customers' needs and our ability to quickly translate that knowledge into new or improved products. Our dedicated technology centers on four continents were established to provide the highest standard of service. Whether a customer needs an entirely new chemistry or an enhanced ingredient for an established product, ISP's scientists at 60 locations around the world provide innovative solutions.
Our ability to serve customers is further strengthened through collaborations with market leaders that offer complementary chemistries and products. We are continually seeking relationships that will broaden our capabilities, so that ISP's customers will have access to a comprehensive range of the most advanced products available to significantly accelerate their time-to-market.
In 2003, we acquired Germinal S.A., a Brazil-based company that supplies the meat and dairy industry. In 2004, we announced the acquisition of Red Carnation Gums, a UK-based global gum ingredient supplier. These two additions to the ISP family represent a key step in increasing our ability to serve customers in the food industry.
As part of our ongoing efforts to expand our business in Europe, we 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.
Another European acquisition that increases our range of personal care ingredients is UK-based Hallcrest. The company is a leading manufacturer of microencapsulation and thermochromic ingredients.
In Asia, we have entered into a distribution agreement with Mingtai Chemical of Taiwan. Through this arrangement we are able to increase our offering of cellulose ingredients for food and pharmaceutical applications.
We continue to focus on acquiring businesses that serve the industries in which we operate. In addition to growth in Europe and Asia we are assessing other regions and markets around the world to explore further opportunities for investment.
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