Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,424.85 162.29 1.00%
S&P 500 1,862.31 19.33 1.05%
NASDAQ 4,086.22 52.06 1.29%
Ticker Volume Price Price Delta
STOXX 50 3,139.26 47.74 1.54%
FTSE 100 6,584.17 42.56 0.65%
DAX 9,317.82 144.11 1.57%
Ticker Volume Price Price Delta
NIKKEI 14,417.68 420.87 3.01%
TOPIX 1,166.55 30.46 2.68%
HANG SENG 22,696.01 24.75 0.11%

Innospec Expands Oilfield Specialties Business With Acquisition of Strata Control Services



Innospec Expands Oilfield Specialties Business With Acquisition of Strata
Control Services

LITTLETON, Colo., Jan. 7, 2013 (GLOBE NEWSWIRE) -- Innospec Inc. (Nasdaq:IOSP)
today announced that a subsidiary of Innospec has acquired Strata Control
Services Inc., a private company. The transaction, which was completed on
December 24, 2012, includes a performance element in the purchase price and
represents between 6x 2012 EBITDA and 5x 2013E EBITDA. The deal is expected to
be accretive to Innospec within the first year.

Strata Control Services, based in Crowley, LA, is a leading supplier of mud
and fluid loss solutions to oil and gas drilling operations. Its products and
services prevent the unnecessary loss of valuable materials into the formation
matrix, thereby lowering the cost of operations. Strata Control's sales for
2012 were approximately $20 million.

Patrick Williams, President and CEO of Innospec said, "I am delighted that we
have taken this important step in acquiring to build out our presence in this
growing market. Strata Control will become part of our Oilfield Specialties
business, and we look forward to working with Steve and his team to expand the
sales of their excellent product lines, using Innospec's global organization.
It is important to recognize that this is only our first acquisition in
growing this business, and we will continue to pursue other attractive
opportunities in this market."

Steve Cart, the former owner, President and CEO of Strata Control, who will
remain with the business, added, "We are pleased to be joining an exciting and
growing company, that will give Strata Control a chance to expand at a faster
rate than we could do independently, and, at the same time, help Innospec
build their Oilfield Specialties business."

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 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, 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
www.innospecinc.com.

CONTACT: Brian Watt
         Innospec Inc.
         +44-151-356-6241
         Brian.Watt@innospecinc.com
        
         Robert D. Ferris
         RF|Binder Partners
         +1-212-994-7505
         Robert.Ferris@RFBinder.com
        
         Dan Scorpio
         RF|Binder Partners
         +1-212-994-7609
         Dan.scorpio@rfbinder.com
Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement