Innospec announces plan to streamline European Facilities
Innospec Inc., a global specialty chemicals company, announced its plan to streamline its facilities in Europe and focus its research, development and technical service activities on centers of excellence. This will result in the closure of its facility in Everberg, Belgium.
“Since acquiring the business from Huntsman at the end of 2016, we have been working to enhance the growth of the business, but also to examine where we can drive innovation and new product development more effectively. We have concluded that there are significant benefits by concentrating our research, development and customer service on our core sites. We are therefore investing in enhanced facilities in our sites at Ellesmere Port, UK, and at Castiglione, Italy. In the longer-term, this will also create a more efficient organization, with a lower cost base,” said Bruce McDonald, president of Innospec Performance Chemicals.
“While this allows our employees to work more closely together in key activities including R&D, it does involve relocating activities away from the site at Everberg. We have concluded the consultation with those employees based at the site and will, therefore, be exiting the site during 2019.”
“We are constantly looking for ways in which to make our business operations more effective. While there will be short-term exceptional costs which we will take in Q3 and in the first half of 2019, there will be immediate benefits of the teams working closely together and longer-term cost savings as we operate from fewer locations. This move demonstrates our commitment to innovation and technology and will improve the productivity and speed to market of our new product development programs,” said Patrick S. Williams, president and CEO.
Innospec manufactures and supplies a wide range of specialty chemicals to markets in the Americas, Europe, the Middle East, Africa, and Asia-Pacific. The Fuel Specialties business specializes in manufacturing and supplying fuel additives that improve fuel efficiency, boost engine performance and reduce harmful emissions. Oilfield Services provides specialty chemicals to all elements of the oil & gas exploration and production industry. The Performance Chemicals business creates innovative technology-based solutions for our customers in the personal care, home care, agrochemical, mining and industrial markets. Octane Additives produces octane improvers to enhance gasoline.