Afton Chemical Announces Investment in Brazil Petroleum Additive Facility
Richmond, VA, June 15, 2016
Afton Chemical Corporation announced a new investment in a petroleum additive facility at Bayer Industrial Park, in Belford Roxo, Rio de Janeiro. The new facility will be operated by Afton Chemical Indústria de Aditivos Ltda – a Brazil-based subsidiary of Afton Chemical Corporation. It will provide the additional infrastructure required to support the company’s long term growth plans in Brazil and the Latin America region.
“This investment reflects our commitment to this key strategic growing market,” said Pablo Blazquez, Afton’s Vice President of The Americas. “Since the acquisition of Texaco Additives businesses and facilities in 1996, Afton has established a significant presence in Brazil’s petroleum additives market. This new facility in Rio de Janeiro will help us to continue developing customer partnerships deploying our company’s Passion for Solutions® in Brazil and the Latin America region.”
The new facility will be operational by mid-2017 and is designed to provide a safe and environmentally sound operation in full compliance with applicable regulations as well as with Bayer and Afton’s Policies. At the same time, the design provides cost effective security of supply and flexibility to grow as regional demand warrants.
“Afton is pleased to set up operations at Bayer’s Industrial Park in Rio de Janeiro and we are looking forward to the synergies that this arrangement will provide, reflecting the passion for safety, quality and innovation that both Companies share,” said Gina Harm, Afton’s Senior Vice President and Chief Operating Officer. “In addition to expanding our capabilities to meet customer needs, the new facility will be scalable to support future market growth.”
The new facility complements and expands Afton’s current footprint in Latin America, which includes subsidiaries in Brazil, Mexico, Argentina and Venezuela.
About Afton Chemical Corporation
Afton Chemical Corporation is part of the NewMarket Corporation (NYSE: NEU) family of companies. Afton Chemical Corporation uses its formulation, engineering and marketing expertise to help their customers develop and market fuels and lubricants that reduce emissions, improve fuel economy, extend equipment life, improve operator satisfaction and lower the total cost of vehicle and equipment operation. Afton Chemical Corporation develops and sells an extensive line of unique additives for gasoline and distillate fuels, driveline fluids, engine oils and industrial lubricants. Afton Chemical Corporation supports global operations through regional headquarters located in Asia Pacific, EMEAI, Latin America and North America. Afton Chemical Corporation is headquartered in Richmond, Virginia. For more information, visit www.aftonchemical.com.
Cautionary Note Regarding Forward-Looking Statements:
Some of the information contained in this press release constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although NewMarket’s management believes its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results will not differ materially from expectations.
Factors that could cause actual results to differ materially from expectations include, but are not limited to, availability of raw materials and distribution systems; disruptions at manufacturing facilities, including single-sourced facilities; ability to respond effectively to technological changes in our industry; failure to protect our intellectual property rights; failure to attract and retain a highly-qualified workforce; hazards common to chemical businesses; competition from other manufacturers; sudden or sharp raw material price increases; gain or loss of significant customers; occurrence or threat of extraordinary events including natural disasters and terrorist attacks; risks related to operating outside of the United States; the impact of fluctuations in foreign exchange rates; an information technology system failure; political, economic, and regulatory factors concerning our products; future governmental regulation; resolution of environmental liabilities or legal proceedings; inability to complete future acquisitions or successfully integrate future acquisitions into our business and other factors detailed from time to time in the reports that NewMarket files with the Securities and Exchange Commission, including the risk factors in Item 1A, “Risk Factors” of our 2015 annual report on Form 10-K, which is available to shareholders upon request.
You should keep in mind that any forward-looking statement made by NewMarket in the foregoing discussion speaks only as of the date on which such forward-looking statement is made. New risks and uncertainties come up from time to time, and it is impossible for us to predict these events or how they may affect the company. We have no duty to, and do not intend to, update or revise the forward-looking statements in this discussion after the date hereof, except as may be required by law. In light of these risks and uncertainties, you should keep in mind that the events described in any forward-looking statement made in this discussion, or elsewhere, might not occur.
Lauren Packard, Marketing Communications
Afton Chemical Corporation
Phone: (804) 788-5800
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