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ETHYL SIGNS ANTIKNOCK PACT WITH OCTEL

 RICHMOND, Va., Jan. 11 /PRNewswire/ -- Ethyl Corporation (NYSE: EY) announced today that it has signed agreements with The Associated Octel Company Limited, London, U.K., that will assure Ethyl of ample long-term supply of lead antiknock compounds.
 The agreements become fully operative July 1, 1994, and dedicate a portion of Octel's production capacity to Ethyl for sale and distribution through Ethyl's worldwide network. In addition, Ethyl will supply bulk transportation services for the antiknock compounds sold by Octel to its customers. Both companies will continue to compete vigorously in sales and marketing of lead antiknocks.
 Ethyl said as a result of signing the agreements it has determined that its subsidiary, Ethyl Canada Inc., will cease production of lead antiknocks at its plant in Sarnia, Ontario, Canada, on March 31, 1994, and about 135 employees will be released. Ethyl Canada will continue to produce and blend other products at the Sarnia facility.
 Ethyl said it does not expect these events to have a significant impact on future earnings.
 Bruce C. Gottwald, president and chief executive officer of Ethyl, said: "The agreements with Octel position Ethyl to participate more effectively in the world antiknock market as long as it exists. In addition, this new arrangement permits better, more effective utilization of antiknock production and bulk shipping capacity in the world."
 Use of lead antiknock compounds continues to be phased down in world markets with the introduction of automotive emission-control technology requiring unleaded gasoline.
 -0- 1/11/94
 /CONTACT: A. Prescott Rowe, 804-788-5413, or Robert P. Buford IV, 804-788-5494, both of Ethyl/
 (EY)


CO: Ethyl Corporation; The Associated Octel Company Limited ST: Virginia IN: CHM SU:

IH-DT -- DC009 -- 0885 01/11/94 09:44 EST
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Publication:PR Newswire
Date:Jan 11, 1994
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