Chemical distributor Ivanhoe Industries Inc. has been purchased by three former employees of Arkema, Totals former chemicals business. Jeffrey M. Snyder, William Tuszynski and Rafael A. Valle bought Ivanhoe from founder and president John S. Hoegl, who is retiring.
Snyder, Tuszynski and Valle have more than 70 combined years of experience in the chemical industry, most of it at Arkema and its predecessor companies in the United States. They did not disclose terms of their acquisition.
Based outside Philadelphia in Tullytown, Pa., Ivanhoe distributes specialty and intermediate chemicals. Chief Financial Officer Tuszynski, who has assumed responsibility for Ivanhoes sales into the lubricants industry, said up to 20 percent of the companys total sales are corrosion inhibitors, esters and other lubricant additives.