NEWARK, Del., Feb. 14, 2007 (PRIME NEWSWIRE) -- Innospec Inc. (Nasdaq:IOSP) today announced that its Innospec Finetex business has partnered with Huntsman Corporation (NYSE:HUN) to launch TAURANOL(r) SCMI-85 (Sodium Cocoyl Methyl Isethionate), a new surfactant for the personal care industry.
TAURANOL(r) SCMI-85 provides the same mildness and foaming attributes of other Innospec Finetex Isethionate surfactants, but with a dramatic improvement in solubility to facilitate "crystal clear" liquid systems. The product is expected to be of particular interest to manufacturers of specialty (sulfate-free) shampoos, as well as face and body cleansers.
"This is one of the most exciting new surfactants developed for the personal care industry in recent years," said Philip Matena, President of Innospec Performance Chemicals U.S. Co., the Innospec Inc. subsidiary which owns the Innospec Finetex business. "We are delighted that Huntsman selected Innospec Finetex to commercialize this new molecule. Our expertise in Isethionate chemistry enabled us to efficiently scale up for production in commercial quantities, and our sales and marketing teams have already generated significant interest in this breakthrough product."
Dave Parkin, Vice President at Huntsman, said, "TAURANOL(r) SCMI-85 is a great example of Huntsman's continued innovation across a wide variety of end markets, as well as our discipline in pursuing different approaches to commercializing new technologies in markets outside our strategic focus. Given Innospec's technical capabilities and marketing strengths in the personal care arena, this partnership was a natural fit."
About Innospec Inc.
Innospec Inc. is an international specialty chemicals company with almost 1,000 employees in 23 countries. Innospec divides its operations into three distinct business areas: Fuel Specialties, Performance Chemicals, and Octane Additives. Together, the three businesses manufacture and supply a wide range of specialty chemicals to markets in the Americas, Europe, the Middle East, Africa and Asia-Pacific. Innospec's Fuel Specialties business specializes in manufacturing and supplying the fuel additives that help improve fuel efficiency, boost engine performance and reduce harmful emissions. Innospec's Performance Chemicals business includes a range of companies that manufacture performance chemicals used in the manufacture of such items as personal care products, household detergents and crop protection chemicals as well as in the plastics, paper, metal plating and oil industries. Innospec's Octane Additives business is the world's only producer of tetra ethyl lead.
About Huntsman
Huntsman is a global manufacturer and marketer of differentiated chemicals. Its operating companies manufacture products for a variety of global industries, including chemicals, plastics, automotive, aviation, textiles, footwear, paints and coatings, construction, technology, agriculture, health care, detergent, personal care, furniture, appliances and packaging. Originally known for pioneering innovations in packaging and, later, for rapid and integrated growth in petrochemicals, Huntsman today has 14,000 employees and over 75 operations in 24 countries. The Company had 2005 revenues of $13 billion.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements which address operating performance, events or developments that we expect or anticipate will occur in the future. Although such statements are believed by management to be reasonable when made, caution should be exercised not to place undue reliance on forward-looking statements, which are subject to certain risks, uncertainties and assumptions. If the risks or uncertainties ever materialize or the assumptions prove incorrect, actual results may differ materially from those expressed or implied by such forward-looking statements and assumptions. Risks, assumptions and uncertainties include, without limitation, the outcome of the Company's disputes with Ethyl and the impact on the Company's tetra ethyl lead business related thereto, changes in the terms of trading with significant customers or gain or loss thereof, the effects of changing government regulations and economic and market conditions, competition and changes in demand and business and legal risks inherent in non-U.S. activities, including political and economic uncertainty, import and export limitations and market risks related to changes in interest rates and foreign exchange rates, government investigations, material fines or other penalties resulting from the Company's voluntary disclosure to the Office of Foreign Assets Control of the U.S. Department of the Treasury and other risks, uncertainties and assumptions identified in the Company's Annual Report on Form 10-K for the year ended December 31, 2005 and those identified in the Company's other reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.