Afton Chemical Corp., which is headquartered in Richmond, Va., U.S.A., announced the completion of its previously announced acquisition of Aditivos Mexicanos, S.A. de C.V. (AMSA), a petroleum additives manufacturing, sales and distribution company based in Mexico City, Mexico. The transaction closed on July 3, 2017, following the approval by the Mexican Federal Economic Competition Commission (Comisión Federal de Competencia Económica, COFECE).
“We are excited to welcome the AMSA team into the Afton family. Adding AMSA to Afton’s global operations will help us bring new value-added solutions to our customers worldwide,” said Rob Shama, Afton Chemical president.
“We plan to manufacture a complete range of petroleum additives for our customers in Mexico and throughout Latin America. We will also supply our other blending locations with components from the AMSA site,” said Shama.
The transition of AMSA into Afton will begin immediately. Customers in Mexico will shortly receive details about the integration.
The acquisition complements and expands Afton’s current footprint in Latin America, which includes subsidiaries in Brazil, Mexico, Argentina and Venezuela.
Afton Chemical, which is part of the NewMarket Corporation (NYSE: NEU), uses its formulation, engineering and marketing expertise to help their customers develop and market fuels and lubricants that reduce emissions, improve fuel economy, extend equipment life, improve operator satisfaction and lower the total cost of vehicle and equipment operation.