NEWARK, Del., April 13, 2010 (GLOBE NEWSWIRE) -- Innospec Inc. (Nasdaq:IOSP) is pleased to announce the launch of a major new collaborative venture with Huntsman Corporation in the personal care market.
The collaboration brings together Huntsman's novel isethionate surfactant technology and Innospec's global sales and applications expertise in the personal care market.
Under an exclusive agreement, Innospec and Huntsman will co-operate to continue developing and to commercialize Innospec's new, innovative mild surfactant: Iselux®. Huntsman will focus on manufacturing the surfactant's key raw material, and Innospec will manufacture and market the finished surfactant, initially from its plant in Spencer, North Carolina.
Janice Latz, Vice President of Intermediates for Huntsman's Performance Products division, said, "We are delighted to be working with Innospec, and we are confident that this partnership will be a quick and effective way to bring this ground-breaking technology to market."
Patrick Williams, President and CEO of Innospec, said, "Feedback from initial trials of this product has been extremely positive, with our customers telling us that Iselux® is the most exciting new product to be launched in the personal care market for many years. This is a key part of our growth strategy in the personal care market, and we are delighted to be working with Huntsman as our partner on this exciting venture."
About Innospec Inc.
Innospec Inc. is an international specialty chemicals company with approximately 800 employees in 23 countries. Innospec manufactures and supplies a wide range of specialty chemicals to markets in the Americas, Europe, the Middle East, Africa and the Asia-Pacific region. 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 Active 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.
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, net income, growth potential and other measures of financial performance). Although forward-looking statements are believed by management to be reasonable when made, caution should be exercised not to place undue reliance on such statements because they are subject to certain risks, uncertainties and assumptions, including in respect of the general business environment, regulatory actions or changes. If the risks or uncertainties materialize or assumptions prove incorrect or change, our actual performance or results may differ materially from those expressed or implied by such forward-looking statements and assumptions. 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, 2009, and other reports filed with the U.S. Securities and Exchange Commission. You are urged to carefully review and consider the cautionary statements and other disclosures made in those filings, specifically those 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.