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OCTEL SIGNS LONG-TERM SUPPLY AGREEMENT WITH ETHYL

 WEST LAFAYETTE, Ind., Jan. 11 /PRNewswire/ -- The management of Great Lakes Chemical Corporation (NYSE: GLK) today announced that the company's Associated Octel affiliate has signed a long-term agreement to supply Ethyl Corporation's requirements for lead antiknock compound, effective July 1, 1994.
 Octel's Managing Director, John S. Little, commented, "The agreement offers significant opportunities for Octel to optimize its production operations and improve the efficiency of its worldwide distribution activities. Consequently, the need to proceed with plant rationalization plans could be delayed by several years. The impact of this new arrangement is that Octel has not only reinforced its place as a solid contributor to Great Lakes' future profitability, but has secured an even stronger position for advancing its evolution as a world class developer and producer of fuel additives and specialty chemicals."
 Little also noted that Ethyl has indicated that its subsidiary, Ethyl Canada Inc., will cease production of lead antiknocks at its plant in Sarnia, Ontario, Canada, on March 31, 1994. He added, "We are taking the necessary steps to ensure that the world supply of antiknock compound remains uninterrupted during this transition period."
 Great Lakes Chemical Corporation, a Fortune 500 company, is the world's leading producer of bromine, brominated chemicals and furfural derivatives for such applications as flame retardants, agriculture, oil and gas well completion fluids, water sanitizers and other specialty applications. The stock of the company is traded on the New York Stock Exchange.
 -0- 1/11/94
 /CONTACT: David R. Bouchard or Gregory J. Griffith of Great Lakes Chemical Corporation, 317-497-6100/
 (GLK)


CO: Great Lakes Chemical Corporation; Associated Octel; Ethyl
 Corporation; Ethyl Canada Inc. ST: Indiana, Ontario IN: CHM SU:


KL -- CL005 -- 0872 01/11/94 09:25 EST
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Publication:PR Newswire
Date:Jan 11, 1994
Words:283
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