October 21, 2016 1:12 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Afton Chemical Corporation

Company Overview

Afton Chemical Corporation develops and manufactures petroleum additives. The company offers gasoline performance additives, diesel fuel additives, and lubricity and cold flow improvers; and driveline products, such as automotive gear oil, automatic transmission fluid, off-road vehicle, and power steering fluid additives, as well as additives for step-type automatic, continuously variable, and dual clutch transmission types. It also offers passenger car, heavy duty diesel, motorcycle, and railroad and marine diesel engine oil additives, as well as olefin copolymer viscosity index improvers; fuel additives that include specialized additives for automotive performance, octane, home heating oil...

500 Spring Street

Richmond, VA 23219

United States

Founded in 1969





Key Executives for Afton Chemical Corporation

Age: 55
Chief Executive Officer of Newmarket Corporation
Age: 66
Vice President of Lubricant Additives
Compensation as of Fiscal Year 2016.

Afton Chemical Corporation Key Developments

Afton Chemical Corporation Announces Investment in Brazil Petroleum Additive Facility

Afton Chemical Corporation announced a new investment in a petroleum additive facility at Bayer Industrial Park, in Belford Roxo, Rio de Janeiro. The new facility will be operated by Afton Chemical Indstria de Aditivos Ltd. a subsidiary of Afton Chemical Corporation. It will provide the additional infrastructure required to support the company's long term growth plans in Brazil and the Latin America region. The new facility will be operational by mid-2017 and is designed to provide a safe and environmentally sound operation in full compliance with applicable regulations as well as with Bayer and Afton's Policies. At the same time, the design provides cost effective security of supply and flexibility to grow as regional demand warrants. The new facility complements and expands Afton's current footprint in Latin America, which includes subsidiaries in Brazil, Mexico, Argentina and Venezuela.

Afton Chemical Corporation Opens Production Plant in Jurong Island

Afton Chemical Corporation announced the opening of its production plant in Jurong Island, Singapore. The facility will now commence production of key components that are used in Afton Chemical Corporation’s engine oil additives to meet rising regional and global demand. The opening of the plant represents a new phase of Afton Chemical Corporation’s ongoing expansion into Asia Pacific, and is central to the company’s plans to ensure that its specialist additive products are ‘Made in Asia for Asia’. The plant also has full capability to produce all of the engine oil additives needed for Asia region and is scalable to allow Afton Chemical Corporation to grow as demand warrants. In the longer term, additional units, such as specialty dispersants, may be added to produce other petroleum additive products in line with market and customer needs.

Afton Gets Board Approval to Expand Singapore Additives Plant

Afton Chemical has received board approval from parent NewMarket Corporation to begin construction on a second-phase expansion of its engine oil additives plant in Singapore. The second phase, which includes additional component production units, will more than double Afton's investment on Singapore's Jurong Island petrochemicals hub, to about SGD 400 million, after completion in 2017. The construction of the first phase, announced in July 2012, is scheduled to be completed by end 2015. Longer term, Afton may also produce other petroleum additives at the Singapore plant.

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