Infineum signs Letter of Intent with Zhangjiagang Industrial Park

4 May 2012 – Infineum, one of the world leaders in the formulation, manufacturing and marketing of petroleum additives for lubricants and fuels, announced on Tuesday 24th April that it had signed a letter of intent with Zhangjiagang Industrial Park in Jiangsu Province, as the first step in the process aimed at building a new manufacturing complex in China. The investment will be subject to Board of Directors approval.

Trevor Russell, VP Sales and Marketing and Chief Strategy Officer for Infineum commented, “We foresee that our manufacturing planned at Zhangjiagang will become one of our largest worldwide operations over the coming decade or so.” The signing ceremony for the Letter of Intent took place in Zhangjiagang on Tuesday 24th April (pictured). Mr Shao, Vice Mayor of Zhangjiagang City, who attended the ceremony, commented “Zhangjiagang is strategically placed to service specialty chemicals businesses with excellent infrastructure, logistics links and access to skilled personnel. We are delighted to welcome Infineum to the Zhangjiagang Industrial Park and look forward to a long and mutually successful partnership”. Trevor Russell, responding on behalf of Infineum, stated “This is an exciting day for Infineum, as we embark on the first phase of developing a major new site focused on meeting the rapidly growing needs of our customers in China and the wider Asia Pacific region. When combined with our world-scale facility in Singapore, Infineum will have a strong footprint to service this key region.” Commenting on the selection of Zhangjiagang, Chris Locke, China Venture Manager for Infineum, explained, “Infineum undertook a wide-ranging assessment of potential manufacturing locations across China. We were particularly impressed with the excellent safety performance at Zhangjiagang, and the strong support received from both the Park and City officials. The first phase of the investment will be focused on blending capability, allowing Infineum to meet the needs of local customers in a flexible and timely manner, with future component plant investments foreseen, aligned with market growth. Coupled with the recent announcement of the salicylate plant investment in Singapore, this facility reinforces the long standing commitment to the Asia Pacific region for Infineum.”

Infineum also announced that Fu Limin, a senior executive from Shanghai with over 20 years of experience in the international chemicals industry, has joined the Infineum executive team as Managing Director China, and Venture Manager for the project. “We are extremely pleased to welcome Limin to Infineum,” stated Russell. “His experience and leadership will guide Infineum in its planned growth in the region.”