FOR IMMEDIATE RELEASE
July 23, 2021
Monument Chemical, Inc.
New Monument Site in Port Arthur Offers Exciting Possibilities for Our Customers
Indianapolis, IN – We are thrilled to share the news that Monument has acquired KMTEX LLC, a privately-owned specialty chemical distillations manufacturer based in Port Arthur, Texas. This acquisition will bring approximately 50 talented new colleagues to our team, and we’re excited to explore new possibilities and opportunities – both for Monument and for our customers – as we begin working together.
Here’s a brief look at some of those new possibilities – and why we’re so eager to bring KMTEX into the Monument family:
- Additional Capacity: KMTEX is recognized as the largest, most flexible toll distillation provider on the Gulf Coast and is known for delivering outstanding toll processing services to chemical companies and refineries. The Port Arthur site is MSTA-compliant and has five full-time distillation trains that can process up to 1 billion pounds per year through both batch and continuous distillation processes.
- Complementary Assets: KMTEX has more than 40 years of experience separating and purifying several related chemistries, including fuels, aromatic hydrocarbons, glycols, and specialty solvents. Adding these technologies to our portfolio will allow us to offer dual-source options and even more flexibility, both within Monument and for our customers.
- Excellent Location: KMTEX’s facility is located on the Sabine River intercoastal waterway – just two miles from the Gulf of Mexico – an ideal location between manufacturing hubs in Texas and Louisiana. This acquisition will enable us to expand our footprint on the Gulf Coast, the most important region within the chemical industry in North America.
- Logistics Advantages: Investing in plant and logistics flexibility has been a critical focus of the KMTEX site in recent years. Today, they have 140 stainless and carbon steel tanks that can store both volatile and non-volatile products, with a total on-site storage capacity of 24 million gallons. The site’s barge dock can handle up to 30,000 barrel barges and offers 24/7 loading flexibility to meet our customers’ needs.
“Mergers, acquisitions, and partnerships are a key part of Monument’s growth strategy,” said Paul Raymond, CEO. “This makes our new partnership with the Port Arthur team even more significant – we’re not just expanding our capabilities; we’re also delivering on the goals we’ve set for ourselves as a company.”
A Shared Commitment to Continuous Improvement – and New Opportunities for Growth
“Uncovering the true potential of new sites and employees is a big part of what we do at Monument,” said Sarves Peri, Vice President, Supply Chain. “With a collaborative mindset and a deep commitment to continuous improvement, we work together to raise the bar – everywhere from quality to safety. And we are extremely adept at leveraging Monument’s learnings, expertise, and experience to support our newest team members.”
In addition to supporting the KMTEX team through the acquisition and well beyond, Monument is also committed to taking excellent care of KMTEX’s customers to ensure a smooth transition – and will look to identify every opportunity to enhance services as our relationship grows.
“We see this partnership as complementary to our existing strengths,” said Don Philips, Vice President, Custom Manufacturing. “Customers will be able to rely on us for the specialized and custom products we’ve always provided, as well as for the larger quantities of chemistries that are also critical to our customers’ formulations. In addition, KMTEX’s assets, location, and logistical advantages will allow us to be even more flexible and creative in our ability to serve customers.”
And that’s our aim with every step we take to grow the Monument family! To continually amaze our customers with high-quality, turnkey solutions that make life easier, secure the global supply chain, and allow our customers, in turn, to deliver innovation to their customers.
We look forward to sharing more updates in this exciting next chapter in our growth story.
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