Afton Chemical Announces Detergent Capacity Expansion.RICHMOND, Va. -- Afton Chemical Corporation has announced the completion of the first phase of a two-part expansion for detergent production. The second phase is expected to be completed in 1st quarter of 2007. "When complete these two de-bottlenecking efforts will increase our detergent capacity by 20% to help support the growing demand of our existing customers", said Jon Rock, Afton's Vice President of Lubricant Lubricant A gas, liquid, or solid used to prevent contact of parts in relative motion, and thereby reduce friction and wear. In many machines, cooling by the lubricant is equally important. Additives. Detergents are used in a variety of lubricant additives produced by Afton; however, the focus of the expansion is engine oil additives. "Although the market remains tight, we are committed to supporting and growing with our current customers", said Warren Huang, Afton's President. Afton plants will continue to have high utilization rates as the additional capacity will be largely consumed with 2007's forecasted business. Afton Chemical Corporation is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of NewMarket Corporation (NYSE NYSE See: New York Stock Exchange :NEU NEU Neutral NEU Northeastern University (Boston, MA, USA) NEU Near East University (North Cyprus, Turkey) NEU Northeast University (China) ). Afton Chemical develops and manufactures petroleum additives that enhance the performance of lubricating oils and fuels to enhance their performance in machinery, vehicles, and other equipment. From custom-formulated chemical blends to market-general additive components, Afton Chemical technology helps fuels burn cleaner, engines run smoother, and machines last longer. Forward-Looking Statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Some of the information contained in this press release constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Although Afton Chemical'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 changes in the demand for our products; and other factors detailed from time to time in the reports that our parent corporation, NewMarket Corporation, files with the Securities and Exchange Commission, including the risk factors in Item 1A, "Risk Factors" of the NewMarket Corporation 2005 Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , which is available to shareholders upon request. |
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