LITTLETON, Colo., Nov. 19, 2013 (GLOBE NEWSWIRE) -- Innospec Inc. (Nasdaq:IOSP) today announced that the company is celebrating its 75th anniversary. Formed in 1938, the company has grown into a diversified global specialty chemicals company, which is now a member of the Russell 2000.
Patrick Williams, President and CEO, said, "We are immensely proud to have reached this milestone, and we are very pleased to achieve our 75th anniversary. Innospec (as Associated Octel) was originally, and for many years, a U.K.-based one product company. Over the past 10 years, we have transformed it into a dynamic and innovative company, financially sound and with a bright future in its core markets of Fuel Specialties, Oilfield Specialties and Personal Care.
He continued, "We have delivered on our promises to customers, employees and investors while transforming the company. But we are far from finished on this journey – we continue to strengthen the business through R&D and acquisition which will underpin an exciting future. We remain committed to having the best people in the business and delivering innovative products with the highest level of customer service, in a safe and compliant manner. I am delighted to lead this celebration with all our employees – from those who have been with us for 30 years or more, to those who have joined us through our more recent acquisitions. I would also like to thank our customers and suppliers, many of whom have worked with us so closely over so many years, and contributed to our success."
M. C. "Bud" Blackmore, Chairman, added, "Innospec has come far in 75 years, and I have been privileged to be part of its more recent success. I take great pride in the strong company we have today, and it is an important moment to recognize all of those who have helped us make these huge strides. Our challenge today is to continue to respond to market uncertainty, so that we develop a sustainable business, operating for many years to come."
About Innospec Inc.
Innospec Inc. is an international specialty chemicals company with approximately 900 employees in 20 countries. Innospec manufactures and supplies 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 provides effective technology-based solutions for our customers' processes or products focused in the Personal Care; Polymers; and Fragrance Ingredients markets. Innospec's Octane Additives business is the world's only producer of tetra ethyl lead.
Forward-Looking Statements
This press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements. Such forward-looking statements include statements (covered by words like "expects," "anticipates," "may," "believes" or similar words or expressions), for example, which relate to operating performance, events or developments that we expect or anticipate will or may occur in the future (including, without limitation, any of the Company's guidance in respect of sales, gross margins, pension liabilities and charges, net income, growth potential and other measures of financial performance). Although forward-looking statements are believed by management to be reasonable when made, they are subject to certain risks, uncertainties and assumptions, and our actual performance or results may differ materially from these forward-looking statements. Additional information regarding risks, uncertainties and assumptions relating to the Company and affecting our business operations and prospects are described in the Company's Annual Report on Form 10-K for the year ended December 31, 2012, and other reports filed with the U.S. Securities and Exchange Commission. You are urged to review our discussion of risks and uncertainties that could cause actual results to differ from forward-looking statements under the heading "Risk Factors" in such reports. 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.