Posted on: Friday 20 July, 2012 2:00
|Afton Chemical Announces Expansion in Asia-Pacific Market with New Manufacturing Facility on Jurong Island, Singapore
Afton Chemical Corporation announces the construction of a new chemical additive manufacturing facility on Jurong Island, Singapore. The multi-year investment, approved by the NewMarket Board on July 17th, will be fully owned and operated by Afton, emphasizing the company’s strong commitment to the expanding Asia-Pacific market. Singapore was selected after an extensive analysis which focused on facility readiness and flexibility, market access, economics, safety, and logistics.
“This represents an investment that is likely to be in excess of 100 million USD for Afton Chemical, and another strong commitment by our Board to this key market,” said Dr. Warren Huang, Afton President. “We have established a significant presence through acquisitions and investments, and with the new facility on Jurong Island, we will continue to bring our company’s ‘Passion for Solutions’ to the Asia-Pacific region,” he said.
“In recent years, we’ve intensified our focus on this important region,” said Damian Barnes, Vice President, Supply. “The new Jurong Island facility will enhance our ability to provide quick and effective service to our Asia-Pacific customers as well as those in India and the Middle East,” he said.
Groundbreaking for the plant is scheduled for the third quarter, 2013, and it’s expected to be operational by mid-2015. The initial capacity will represent a modest increase in our overall global production. The plant will be scalable to allow Afton to grow as demand warrants.
Dr. Huang added, “This strong combination of R&D and manufacturing in the region, will not only improve security of supply and reduce lead-times, but also help us to develop cost-effective, customized solutions for the region. And in turn, that will help our customers improve the profitability of their businesses.”