LITTLETON, Colo., Sept. 28, 2011 (GLOBE NEWSWIRE) -- Innospec Inc. (Nasdaq:IOSP) today announced the opening of a new sales office in Brazil. This is a further significant step in the expansion of its international operations, and provides a regional hub for growth in Latin and South America. Innospec do Brasil will focus initially on the company's Fuel Specialties business, but is expected to expand into other Innospec business areas in the future.
Patrick Williams, President & CEO, said: "South America has some of the fastest growing economies in the world, and Brazil has been the epicenter of this growth. We have seen strong demand for our fuel additive products in the region and we believe there is real potential for further, significant growth in many countries. The new office in Brazil is an important move for Innospec, as it gives us the strong local presence necessary to service customers and maximize growth in this key region. Brazil is also one of the foremost personal care markets in the world, and this will also provide us with growth opportunities. I am confident that we have assessed these new market opportunities well, and we will be an important player in the South American market."
About Innospec Inc.
Innospec Inc. is an international specialty chemicals company with approximately 850 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 Active Chemicals business provides effective technology-based solutions for our customers' processes or products focused in the Personal Care; Household, Industrial & Institutional; 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, caution should be exercised not to place undue reliance on such statements because they are subject to certain risks, uncertainties and assumptions, including in respect of the general business environment, regulatory actions or changes. If the risks or uncertainties materialize or assumptions prove incorrect or change, our actual performance or results may differ materially from those expressed or implied by such forward-looking statements and assumptions. 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, 2010 and other reports filed with the U.S. Securities and Exchange Commission. You are urged to carefully review and consider the cautionary statements and other disclosures made in those filings, including specifically those under the heading "Risk Factors". 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.
For more information about Innospec, please visit our website at www.innospecinc.com.