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Balchem Corporation (“Balchem,” the “Company,” “we” or “us”), was incorporated in the State of Maryland in 1967.
−Removed: We develop, manufacture, distribute and market specialty performance ingredients and products for the nutritional, food, pharmaceutical, animal health, medical device sterilization, plant nutrition and industrial markets.
+Added: We develop, manufacture, distribute and market specialty performance ingredients and products for the nutritional, food, pharmaceutical, animal health, plant nutrition, sterilization, fumigation, and industrial markets.
Our three reportable segments are strategic businesses that offer products and services to different markets:
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Specialty Products
−Removed: The Company re-packages and distributes a number of performance gases and chemicals for various uses by its customers, notably ethylene oxide, propylene oxide, and ammonia.
+Added: The Company's Specialty Products ("SP") segment re-packages and distributes a number of performance gases and chemicals for various uses by its customers, notably ethylene oxide, propylene oxide, and ammonia.
Ethylene oxide is sold as a sterilant gas, primarily for use in the health care industry.
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The Company’s inventory of these specially built drums and cylinders, along with its five filling facilities, represents a significant capital investment.
−Removed: The Company also sells single use canisters for use in sterilizing re-usable devices typically processed in autoclave units in hospitals.
+Added: The Company also sells single use canisters for use in sterilizing reusable devices typically processed in autoclave units in hospitals.
The Company’s micronutrient agricultural nutrition business sells chelated minerals primarily to producers of high value crops.
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As a result, the farmer/grower gets healthier crops that are more resistant to disease and pests, larger yields and healthier food for the consumer with extended shelf life for produce being shipped long distances.
−Removed: Significant Acquisitions
−Removed: On August 30, 2022, the Company's wholly-owned subsidiary Albion Laboratories, Inc.
−Removed: ("Albion") entered into a Stock Purchase Agreement, and closed on such transaction with Cardinal Associates Inc.
−Removed: ("Cardinal"), a corporation organized under the laws of the State of Washington, pursuant to which Albion acquired Cardinal and its Bergstrom Nutrition business (collectively, "Bergstrom").
−Removed: Bergstrom is a leading science-based manufacturer of MSM, based in Vancouver, Washington.
−Removed: Details related to the Bergstrom acquisition are disclosed in Note 2, Significant Acquisitions .
−Removed: The addition of OptiMSM ® , Bergstrom Nutrition's MSM brand, to the Company's portfolio within the Human Nutrition and Health and Animal Nutrition and Health segments provides a synergistic scientific advantage in Balchem's key strategic therapeutic focus areas such as longevity and performance and is a strong fit with Balchem's specialty, science-backed mineral products.
−Removed: On June 21, 2022, the Company and its wholly-owned subsidiary, Balchem B.V., completed the acquisition of Kechu BidCo AS and its subsidiary companies, including Kappa Bioscience AS, a leading science-based manufacturer of specialty vitamin K2 for the human nutrition industry, headquartered in Oslo, Norway (all acquired companies collectively referred to as “Kappa”).
−Removed: Details related to the Kappa acquisition are disclosed in Note 2, Significant Acquisitions .
−Removed: The acquisition strengthens the Company's scientific and technical expertise, geographic reach, and marketplace leadership, which should ultimately lead to accelerated growth for the Company's portfolios within the Human Nutrition and Health segment.
Raw Materials
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In 2025, supply reliability stabilized, although procuring certain raw materials remained a challenge due to the ongoing geopolitical environment impacting some supply lanes.
−Removed: Early deflationary trends shifted to an inflationary pattern during the year in several categories that we source.
+Added: We experienced inflationary patterns in 2025, including from certain tariffs, in several categories that we source.
We continue to put measures in place to ensure a sustainable supply chain capable of supporting current demands and the future growth of our business.
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$11,489 for the ANH segment;
−Removed: $1,284 for the Specialty Products segment, and $137 for other), as compared to a total backlog of $42,957 at December 31, 2023 (comprised of $32,418 for the HNH segment;
+Added: $1,933 for the SP segment, and $356 for other), as compared to a total backlog of $50,415 at December 31, 2024 (comprised of $39,959 for the HNH segment;
$9,035 for the ANH segment;
−Removed: $2,678 for the Specialty Products segment and $222 for other).
+Added: $1,284 for the SP segment and $137 for other).
It has generally been our policy and practice to maintain an inventory of finished products and/or component materials for our segments to enable us to ship products within two months after receipt of a product order.
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Therefore, we are unable to assess the size of all of our competitors or where we rank in comparison to such privately-held competitors.
+Added: In late June 2025, the European Commission announced that it would impose provisional duties between 95.4% and 120.8% on imports into the European Union of choline chloride originating in the People’s Republic of China, effective July 1, 2025.
+Added: The investigation was initiated by the European Commission in late October 2024, following a complaint lodged by Balchem Italia Srl and another complainant.
+Added: On December 19, 2025, the European Commission published their final decision to set definitive duties between 90.0% and 115.9%.
+Added: Further, the European Commission set rules to make it clear that the country of origin of choline chloride, regardless of form, will be the country where the chemical reaction between trimethylamine hydrochloride and ethylene oxide takes place.
In the Specialty Products segment, competition within Performance Gases is based primarily on service, reliability, quality, and price.
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We continue to invest in projects across all production facilities and capital expenditures were approximately $43,193, $35,148, and $37,274 for 2025, 2024 and 2023, respectively.
+Added: In 2025, we invested $18,820 on projects expected to provide favorable returns on investment, including expanded capacity in key product lines and efficiency projects in both the HNH and the ANH segments and equipment upgrades to improve process reliability and support our business growth.
+Added: In addition, we invested $5,147 for environmental, health, safety, and security upgrades to our facilities.
In 2024, we invested $17,202 on projects expected to provide favorable returns on investment, including expanded capacity in key product lines in the HNH segment and equipment upgrades to improve process reliability and support our business growth.
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In addition, we invested $6,900 for environmental, health, safety, and security upgrades to our facilities.
−Removed: In 2022, we invested $29,759 on projects expected to provide favorable returns on investment, including expanded capacity in key product lines in the HNH segment.
−Removed: In addition, we invested $6,020 for environmental, health, safety, and security upgrades to our facilities and $3,024 in automation projects that improved the quality and efficiency of our operations.
−Removed: Capital expenditures are projected to range from $40,000 to $45,000 for 2025, including our continued efforts to invest in energy and water saving projects, while exploring additional renewable energy opportunities in support of the company's sustainability efforts.
+Added: Capital expenditures are projected to range from $40,000 to $45,000 for 2026, including our continued efforts to invest in energy and water saving projects, while exploring additional renewable energy opportunities in supporting our future growth and capacities.
Environmental and Regulatory Matters
The Federal Insecticide, Fungicide and Rodenticide Act (“FIFRA”), a health and safety statute, requires that certain products within our Specialty Products segment must be registered with the U.S.
−Removed: Environmental Protection Agency ("EPA") because they are considered pesticides.
+Added: Environmental Protection Agency ("EPA") because they
+Added: are considered pesticides.
As part of the registration review process, the EPA assesses a wide variety of studies to determine the likelihood of risk to human health and the environment from exposure associated with use of the product.
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Further, the ID contemplates that EPA will gather annual worker exposure data from EtO users, including our customers.
−Removed: The ID may be subject to further review, including additional stakeholder input.
+Added: The ID is still subject to further review, including additional stakeholder input.
EtO, when used as a sterilant for certain medical devices, has no known equally effective substitute.
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Based on these documents, the use of propylene oxide to treat nuts and spices will continue to be permitted with minimal changes to the current approved usage.
−Removed: We submitted required changes to the product label, and expect the EPA to review and approve them during 2025.
−Removed: Our facility in Verona, Missouri facility, while held by a prior owner, Syntex Agribusiness, Inc.
+Added: We submitted required changes to the product label for propylene oxide which were reviewed and approved by the EPA in 2025.
+Added: Our facility in Verona, Missouri, while held by a prior owner, Syntex Agribusiness, Inc.
(“Syntex”), was designated by the EPA as a Superfund site and placed on the National Priorities List in 1983 because of dioxin contamination on portions of the site.
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As of December 31, 2025, we employed approximately 1,352 full-time employees worldwide, with approximately 16% covered by collective-bargaining agreements.
−Removed: We are seeing some improvement in the labor market and feel our team has been successful in attracting and retaining skilled and experienced employees in a competitive landscape.
+Added: Our team has been successful in attracting and retaining skilled and experienced employees in a competitive landscape.
Additionally, we continue to enhance and leverage our existing technological capabilities to further optimize productivity and performance, and explore new solutions to drive efficiencies.
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Our recordable injury rate, which is defined as recordable injuries per 200,000 hours worked, was 0.63, 0.57, and 1.39 in 2025, 2024, and 2023, respectively.
−Removed: In 2024, we further refined our environmental, health, safety, and security management system to place greater emphasis on hazard identification and correction.
−Removed: We enhanced our emphasis on near-miss reporting and improved communication across various locations, enabling us to address the root causes of incidents, and we have reallocated Environmental, Health, and Safety (EHS) resources to enable a more rapid response to safety enhancements.
−Removed: We continue to improve our working conditions and our work practices where safety is impacted.
+Added: In 2025, we have continued the improvements on our environmental, health, safety, and security systems and programs placing greater emphasis on proactive identification and correction of hazards.
+Added: We enhanced our emphasis on near-miss reporting and improved communication across various locations, enabling us to address risks, incidents, and further develop awareness across the organization.
+Added: In addition, we have reallocated Environmental, Health, and Safety (EHS) resources to enable a more rapid response and support across our operations.
+Added: We continue to improve our working conditions and work practices to further improve safety.
Training and Well-Being Programs
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For the years ended December 31, 2025 and 2024, our turnover rate was 23% and 21%, respectively, for hourly employees with an average length of service of about 7 years for both years.
−Removed: We are continuing to improve employee retention with effective employment engagement efforts with frequent town hall meetings, a tool to promote peer to peer recognition, and various rewards and recognition programs.
+Added: We continue to prioritize employee retention with effective employment engagement efforts with frequent town hall meetings, a tool to promote peer to peer recognition, and various rewards and recognition programs.
Sustainability
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This report provides detailed information regarding our corporate responsibility strategy, focus areas and governance structure.
−Removed: We are committed to reducing our greenhouse gas emissions by implementing new technologies, improving operational efficiencies, and expanding green energy usages.
−Removed: In addition, we are committed to reducing our global water use by recycling water and investing new technologies to improve water efficiency.
+Added: We are committed to reducing our greenhouse gas emissions by implementing new technologies, improving operational efficiencies, and expanding our reliance on renewable energy.
+Added: In addition, we are committed to reducing our global water use by recycling water and investing in new technologies to improve water efficiency.
For more information on our approach to sustainability management, refer to our website at https://balchem.com/responsibility/sustainability.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.