Significant Investment to support increasing customer demand for dried surfactants
Engineering work has started – beneficial production early 2018
ENGLEWOOD, Colo., June 01, 2017 (GLOBE NEWSWIRE) -- Innospec Inc. (NASDAQ: IOSP ) today announced that it has approved a significant investment in its Performance Chemicals business to increase capacity at the surfactant production facility in Saint Mihiel, France. This strategic investment will focus on increasing Innospec’s production of dried anionic surfactants enabling it to support its customers growth in these key growing markets.
These technologies are used in a range of household detergents, in particular toilet and hard surface cleaners.
Bruce McDonald, President of Innospec’s Performance Chemicals business, said: “This is one of the core product families in our recently acquired surfactants business. This new investment is consistent with our strategy of focusing on specialty surfactant markets and applications.”
William Mounsey, Regional Sales Director, Europe, Middle East and Africa, for Home Care, Institutional and Industrial markets, said: “Adding new capacity is an important step in meeting our customers needs for these key products, and continuing to develop one of our strategic assets at St Mihiel.”
Innospec expects the investment to deliver beneficial production by the end of the year.
For more information on Innospec’s Performance Chemicals division, please visit our website: http://www.innospecinc.com
About Innospec Inc.
Innospec Inc. is an international specialty chemicals company with approximately 1800 employees in 23 countries. Innospec manufactures and supplies a wide range of specialty chemicals to markets in the Americas, Europe, the Middle East, Africa and Asia-Pacific. The Fuel Specialties business specializes in manufacturing and supplying fuel additives that improve fuel efficiency, boost engine performance and reduce harmful emissions. Oilfield Services provides specialty chemicals to all elements of the oil & gas exploration and production industry. The Performance Chemicals business creates innovative technology-based solutions for our customers in the Personal Care, Home Care, Agrochemical, Mining and Industrial markets. Octane Additives produces octane improvers to enhance gasoline.
Forward-Looking Statements
This press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements. Such forward-looking statements include statements (covered by words like “expects,” “estimates,” “anticipates,” “may,” “believes,” “feels” or similar words or expressions), for example, which relate to earnings, growth potential, operating performance, events or developments that we expect or anticipate will or may occur in the future. Although forward-looking statements are believed by management to be reasonable when made, they are subject to certain risks, uncertainties and assumptions, and our actual performance or results may differ materially from these forward-looking statements. Additional information regarding risks, uncertainties and assumptions relating to Innospec and affecting our business operations and prospects are described in Innospec’s Annual Report on Form 10-K for the year ended December 31, 2016 and other reports filed with the U.S. Securities and Exchange Commission. You are urged to review our discussion of risks and uncertainties that could cause actual results to differ from forward-looking statements under the heading "Risk Factors” in such reports. Innospec undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts: Brian Watt Innospec Inc. +44-151-355-3611 Brian.Watt@innospecinc.com
