Innospec Responds to Revised First Reserve/SK Capital Offer for TPC Group
LITTLETON, Colo., Nov. 8, 2012 (GLOBE NEWSWIRE) -- Innospec Inc. (Nasdaq:IOSP)
today acknowledged reports of a revised competing offer for TPC Group
(Nasdaq:TPCG) by the investment groups of First Reserve Corporation and SK
Responding to statements made in the investment group's press release about
Innospec and its non-binding proposal, Patrick Williams, President and CEO,
noted, "We object strongly to the statements they have made, some of which are
either false or misleading and which reflect a significant lack of
understanding of Innospec's business, its strategy and its proposal.
We have no additional comment at this time, and we refer you to our previous
statements and SEC filings on the matter."
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 Performance 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.
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, 2011, 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." 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, except as required by law.
For more information about Innospec, please visit our website at
CONTACT: Brian Watt
Robert D. Ferris
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