Innospec Inc. develops, manufactures, blends, markets, and supplies fuel additives, oilfield chemicals, personal care and fragrance ingredients, and other specialty chemicals. Segments The company operates through three segments: Fuel Specialties (including Oilfield Specialties), Performance Chemicals, and Octane Additives. Fuel Specialties This segment develops, manufactures, blends, markets, and supplies a range of specialty chemical products used as additives to a range of fuels. These fuel additive products are used in the operation of automotive, marine and aviation engines; power station generators; and heating and diesel particulate filter systems. This segment also includes the company’s activities in Oilfield Specialties. During 2013, the company completed the acquisition of Bachman Services, Inc.; Specialty Intermediates, Inc.; Bachman Production Specialties, Inc.; and Bachman Drilling & Production Specialties, Inc. to add to its acquisition of Strata Control Services, Inc. to further build-out its presence in Oilfield Specialties. Customers: This segment’s customers include national oil companies, multinational oil companies, oil and gas exploration companies, and fuel retailers. Performance Chemicals This segment provides technology-based solutions for its customers’ processes or products focused in the personal care, polymers, and fragrance ingredients markets. In 2013, the company acquired Chemsil Silicones, Inc. and Chemtec Chemical Co. These acquisitions have added new products and technology to the Personal Care business within this segment, as well as providing an improved sales infrastructure to serve the West Coast U.S. market. Customers: This segment’s customers include large multinational companies, manufacturers of personal care and household products, and specialty chemical manufacturers operating in niche industries. Octane Additives This segment produces and sells tetra ethyl lead (TEL) for use in automotive gasoline and trading in respect of the company’s environmental remediation business. Sales of TEL for use in automotive gasoline are made principally to state-owned refineries located in the Middle East and Northern Africa. The company’s environmental remediation business serves these customers to manage the cleanup of redundant plants as refineries complete the move away from leaded gasoline. Customers The company’s products are sold primarily to oil refineries, personal care and fragrance companies, and other chemical and industrial companies worldwide. In 2013, the company had a customer in the Fuel Specialties segment, such as Royal Dutch Shell plc and its affiliates. Strategy The company’s strategy is to develop new and improved products and technologies to continue to strengthen and increase its market positions within its Fuel Specialties (including Oilfield Specialties) and Performance Chemicals segments. Intellectual Property The trademark ‘Innospec and the Innospec device’ in Classes 1, 2 and 4 of the ‘International Classification of Goods and Services for the Purposes of the Registration of Marks’ are registered in all jurisdictions in which the company has a market presence. Research, Development, Testing, and Technical Support The company’s expenditures to support research, product/application development, and technical support services were $21.2 million in 2013. Health, Safety, and Environmental Matters The European Union legislation known as the Registration, Evaluation and Authorization of Chemical Substances Regulations requires majority of the company’s products to be registered with the European Chemicals Agency. History The company was founded in 1938. It was formerly known as Octel Corp. and changed its name to Innospec Inc. in 2006.
innospec inc (IOSP:NASDAQ GS)
8310 South Valley Highway
Englewood, CO 80112
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