Our proven consolidation strategy has consistently enhanced shareholder value by optimizing the profitability of acquired businesses and driving free cash flow growth. We specifically seek to acquire proven, niche specialty chemicals with significant market share, long product life, high barriers to entry and low capex requirements.
KMG is a leading global supplier of high purity process chemicals, serving major semiconductor manufacturers in the U.S., Europe and Asia. Our key products include high purity acids, solvents and other wet chemicals used to etch and clean silicon wafers in the production of semiconductors. Our U.S. Electronic Chemical manufacturing facilities are strategically located in Pueblo, Colorado and Hollister, California. In Europe, we operate facilities in Riddings, UK; St. Fromond, St. Chéron and Rousset, France; and Milan, Italy. In Asia, we operate three facilities in Singapore.
Through our subsidiary KMG-Bernuth, Inc., KMG is a leading U.S. supplier of wood treating chemicals for use in the electric power and communications industries. KMG-Bernuth is the only manufacturer of EPA-registered pentachlorophenol (penta) in North America. Used to preserve and protect wooden utility poles, penta is the preferred treating solution for wooden utility poles located in rural areas where linemen must climb the poles to maintain the telecommunications and power lines. Each year, KMG-Bernuth supplies enough penta to treat approximately 900,000 wood utility poles.
Val-Tex, a wholly-owned subsidiary of KMG, manufactures and distributes industrial valve lubricants and sealants primarily for the oil and gas storage, pipeline and gas distribution markets. Our value-added specialty products enable optimal valve operation and help prevent costly downtime at customer facilities and pipelines.