U.S. Summit Company
| Company type | Private |
|---|---|
| Industry | Consulting, Chemicals, Consumer goods |
| Founded | 1948 |
| Founder | PM Yen, JT Shaw, Cheng Ching Wang, C.D. Shiah |
| Headquarters | Pound Ridge, New York , United States |
Area served | Asia, Southeast Asia |
Key people | Kenneth Wang (President), Cheng Ching Wang (Founder) |
| Products | Consulting services, Pureen maternity and infant care products |
| Website | www |
The U.S. Summit Company is a U.S.-based multinational corporation that provides consulting services to industrial chemical and consumer goods enterprises operating across Asia.
Established in 1948 by four Massachusetts Institute of Technology alumni, including Cheng Ching Wang, the firm’s main office is located in Pound Ridge, New York. Kenneth Wang, son of co-founder Cheng Ching Wang and sibling of fashion designer Vera Wang, currently serves as President. Kenneth Wang is also the founder and proprietor of the Pound Ridge Golf Club and holds a lifetime position on the MIT Corporation, the institute’s board of trustees.
History
The origins of the company trace back to 1947 when PM Yen, JT Shaw, Cheng Ching Wang, and subsequently C.D. Shiah founded Summit Industrial Corporation, which was rebranded as U.S. Summit Corporation in 1948. The designation "Summit" symbolizes the founders’ shared background as classmates at MIT.
In its early operations, the company managed an oil refinery located in Bangchak, Thailand, along with a network of gas stations nationwide. By 1965, Summit had extended its refinery lease to produce 20,000 barrels of crude oil daily. Control of these operations was transferred to Thailand’s Ministry of Defense in 1981. During this era, Summit represented nearly 6% of the country's liquefied petroleum gas sector.
Over the years, U.S. Summit has diversified into multiple industries such as crude oil, pharmaceuticals, computing technology, packaged foods, and electronics. It has collaborated with major corporations including Motorola, General Motors, British Petroleum, and Caltex. The company maintained offices throughout Asia and Bermuda. Beginning in 1990, Cheng Ching Wang became the sole investor and Chairman of the Vera Wang Company.
Today, U.S. Summit concentrates on advisory services for enterprises expanding their footprint primarily within Southeast Asia.
Pureen
Within Southeast Asia, Summit delivers consulting and operational management through various ventures, notably the Pureen line of maternity and infant care products. A report from Euromonitor International noted that Pureen commanded a 41.9% share of Malaysia’s baby tissue market in 2018.