NEWARK, Del., April 28, 2010 (GLOBE NEWSWIRE) -- Innospec Inc. (Nasdaq:IOSP) today announced the promotion of Patrick McDuff to the position of Vice President and President of the Fuel Specialties business in the Americas. In this role, Mr. McDuff will be responsible for all aspects of Innospec's strategically important Fuel Specialties business in the Americas and will continue to be a key member of the Global Business Team for the Fuel Specialties division.
Mr. McDuff has been Vice President and Director of Business Development for the Fuel Specialties business in the Americas since 2004 and assumed the additional responsibility for its Supply Chain in 2009. Prior to this he has held a number of senior commercial and business roles in the American business since joining the Company in 1994 as an Account Manager for the West Coast region. He has over 20 years experience in the chemicals industry, having previously held positions with Texaco Inc. and Betz Process Chemicals, Inc. He has a degree in Chemical Engineering from the University of Tennessee.
Patrick Williams, President and Chief Executive Officer, said, "Pat has been a key part of the success we have enjoyed in the Americas and I am delighted to announce his promotion. Over the last two years Pat has been instrumental in establishing our growing business in South America and has made a significant contribution to the global strategic development of the Fuel Specialties business. He is a proven well respected executive with excellent commercial skills and his energy and focus, together with his strong industry knowledge and leadership skills, will be invaluable to us as we continue to drive the business forward and create value for our shareholders, our customers and our employees."
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.