Afton Chemical’s S$380 Million Phase II Expansion of Its Jurong Island Plant is Now Complete
2018年9月21日 - 5:30AM
ビジネスワイヤ(英語)
Afton Chemical Corporation, a global leader in the lubricant and
fuel additive market, today announced the completion of the Phase
II expansion of its Chemical Additive Manufacturing Facility in
Jurong Island, Singapore. This milestone was marked by a special
visit from Singapore’s Minister for Trade & Industry Mr. Chan
Chun Sing, who also made a speech and toured the facility.
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Afton Chemical Corporation – Singapore
Chemical Additive Manufacturing Facility Phase II Expansion (Photo:
Business Wire)
As a wholly owned subsidiary of NewMarket Corporation (NYSE:
NEU), Afton has been a leading player in the lubricant and fuel
additive marketplace for over 90 years. The company was founded on
a Passion for Solutions® and has maintained a focus on customizing
commercial and industrial solutions that meet customer needs.
Afton begun its Singapore manufacturing operations in May 2016,
when it announced the Phase I opening of its Jurong Island plant.
Phase II’s investment of S$222 million is more than Phase I’s
initial investment of S$158 million, bringing the total investment
in Singapore to S$380 million.
“This facility was key to Afton’s plans to ensure that our
products are ‘Made in Asia for Asia’. Our Jurong Island plant now
has the full capability to produce core engine oil additives that
we need for the Asia Pacific region,” commented Gina Harm, Afton
Chemical’s President. “We are also proud to say that we are
investing in advanced technologies that will contribute towards
longer term goals of reducing carbon emissions,” said Harm.
Phase II’s expansion kickstarts production of advanced ashless
dispersants and anti-wear components. All are critical components
in several of Afton’s products, and will help passenger vehicles
and commercial vehicles meet performance standards of the future.
The latest expansion also enhances the support network in Asia
Pacific, which already has established R&D innovation centers
in Suzhou, China and Tsukuba, Japan.
“We continue to invest in Singapore because we see it as the
central hub of the region. It has a strong record of safety,
security and integration – conditions we value. Furthermore, there
is a strong talent pool and retention is very positive. From a
manufacturing perspective, Singapore is the perfect place to
distribute not only to ASEAN but also China. For the three major
demand clusters in China, it only takes 20 days to deliver to and
from Singapore,” added Sean Spencer, Afton Chemical Asia’s Vice
President. “Essentially, we are improving customer satisfaction
with shorter lead times and enhanced security of supply.”
This expansion will increase Afton’s workforce in Singapore by
123%. The facility will house state-of-the-art equipment and will
be the first plant in the Afton family to offer integrated
management systems and automated full traceability. It will occupy
approximately 45,500sqm in land area and will continue production
of key components used in engine oil additive packages such as ZDDP
Antiwear, Ashless Dispersants and Sulfonate Detergents.
“Asia’s rapid urbanisation and growth is driving the demand for
transportation fuel and specialty chemical products. Afton’s Phase
II expansion is testament to the attractiveness of Singapore as a
hub to capture growing opportunities in the region, and the ability
of our workforce to undertake high value-added manufacturing,” said
Ms Cindy Koh, Director, Energy & Chemicals, Singapore Economic
Development Board. “We look forward to partnering with Afton
Chemical in their growth plans for Asia.”
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, the availability
of raw materials and distribution systems; disruptions at
manufacturing facilities, including single-sourced facilities; the
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; the
gain or loss of significant customers; the 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 or security breach;
political, economic, and regulatory factors concerning our
products; current and future governmental regulations; resolution
of environmental liabilities or legal proceedings; our inability to
realize expected benefits from investment in our infrastructure or
from recent or future acquisitions, or our inability to
successfully integrate recent or 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 2017 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 arise 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.
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Afton Chemical CorporationAP: Chong Kit Lee on +65 6739 6330 or
KitLee.Chong@AftonChemical.comorEMEAI: Kate Edrupt on +44 1344
356823 or Kate.Edrupt@AftonChemical.comorAMERICAS: Lauren Packard
on +1 804 788 6081 or Lauren.Packard@AftonChemical.com
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