ENGLEWOOD, Colo., Oct. 23, 2017 (GLOBE NEWSWIRE) -- Innospec (NASDAQ:IOSP) today announced that it has published its eighteenth annual Responsible Business Report, which provides an overview of the company’s progress and activities in 2016. The report outlines the company’s sustainability strategy which is developed over the four pillars of responsible business; economic, social, environment and governance.

Key highlights from 2016 include:

  • Acquisition of European surfactants business form Huntsman, enhancing the range of technology-based solutions for our customers and adding three new European manufacturing facilities to our operations.
  • Continued focus on reducing our Energy, Greenhouse Gas, Hazardous Waste and Water usage.
  • 8% reduction in numbers of accidents
  • 48% reduction in the amount of material involved in loss of containment events.
  • A total of 1,386 employees and contractors taking part in Innospec online compliance training programs
  • Supporting 111 charities local to our operations with the donation of almost $245,000 and participation in a number of fund raising and sponsorship events.
  • Independent assurance of report to the globally recognised AA1000 Assurance standard.

Patrick S. Williams, President and Chief Executive Officer, said, “We are pleased to publish our eighteenth Responsible Business Report highlighting the progress we have made to date. We recognise that sustainability underpins everything we do.  In 2016, we continued to deliver our ambitious growth strategy with the acquisition of the European surfactants business which enhances our offerings to customers in the personal, homecare, agrochemical, mining and industrial markets. Despite the challenging market conditions in some sectors, we ended the year in a strong financial position.  We have been able to establish solid foundations for the future of our employees, customers and shareholders."

To read the full Innospec 2016 Responsible Business Report, please visit www.innospecinc.com.

About Innospec Inc.

Innospec Inc. is an international specialty chemicals company with approximately 1800 employees in 23 countries. Innospec manufactures and supplies a wide range of specialty chemicals to markets in the Americas, Europe, the Middle East, Africa and Asia-Pacific.  The Fuel Specialties business specializes in manufacturing and supplying fuel additives that improve fuel efficiency, boost engine performance and reduce harmful emissions. Oilfield Services provides specialty chemicals to all elements of the oil & gas exploration and production industry.  The Performance Chemicals business creates innovative technology-based solutions for our customers in the Personal Care, Home Care, Agrochemical, Mining and Industrial markets.  Octane Additives produces octane improvers to enhance gasoline.

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,” “estimates,” “anticipates,” “may,” “believes,” “feels” or similar words or expressions, for example) which relate to earnings, growth potential, operating performance, events or developments that we expect or anticipate will or may occur in the future.  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 Innospec and affecting our business operations and prospects are described in Innospec’s Annual Report on Form 10-K for the year ended December 31, 2016 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.  Innospec undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts:

Brian Watt
Innospec Inc.
+44-151-355-3611
Brian.Watt@innospecinc.com