SINGAPORE–(BUSINESS WIRE)–Afton Chemical Company, a world chief within the lubricant and gas additive market, has obtained approval from the Afton Chemical board to put money into Gasoline Efficiency Components (GPA) mixing capabilities at its Singapore Chemical Additive Manufacturing Facility.
The funding is a part of Afton’s “Made In” technique that focuses on globally lean provide chain options that allow faster help and more practical provide to its clients in Asia. It should additionally present the extra infrastructure required to help the corporate’s long-term world development plans.
The demand for GPA in Asia Pacific is predicted to develop at a compound annual development price of 4% via 2024. “The extra GPA mixing capability in Singapore will assist fulfill the rise in demand pushed by the anticipated development in China and different elements of Asia,” mentioned Mr. Sean Spencer, Vice President and Managing Director of Afton Chemical Asia.
Afton has invested roughly S$400 million within the Singapore Chemical Additive Manufacturing Facility. The choice to proceed Part three funding is because of the built-in petrochemical hub in Singapore and commerce connectivity to all elements of Asia and the Center East. The Singapore authorities and Financial Improvement Board has been offering robust help to Afton from the beginning of its “Made In” funding within the area.
The brand new unit will assist Afton and, in flip, our clients, by:
- Growing cost-effective and customised options for the area that can enable our clients a aggressive edge of their markets
- Strengthening our potential to serve our clients worldwide and help their future development
- Connecting our capacities globally to help regional and world enterprise continuity, offering safety of provide and shorter lead-times
The brand new mixing unit might be operational by the fourth quarter of 2021 and designed to adjust to High quality, Environmental and Occupational Well being and Security Evaluation and all relevant laws. This funding enhances the mixing and terminal operations within the Americas and Europe.
Afton is a world market chief in efficiency additive expertise for fuels. Afton’s GPA options assist fuels burn cleaner and extra effectively, enabling engines to carry out as designed throughout their tools lifetime on gas economic system, energy and acceleration.
In Asia Pacific, Afton has established two gas and lubricant additive Expertise Facilities in Suzhou, China and Tsukuba, Japan that present Afton’s clients with enhanced technical providers, together with pattern mixing, bodily and chemical evaluation, and efficiency testing.
The continued funding within the manufacturing amenities and expertise facilities within the area underscores Afton’s dedication to offering elevated buyer help to the fast-growing GPA enterprise in Asia Pacific.
About Afton Chemical Company:
Afton Chemical Company is a part of the NewMarket Company (NYSE: NEU) household of firms. Afton Chemical Company makes use of its formulation, engineering and advertising experience to assist their clients develop and market fuels and lubricants that scale back emissions, enhance gas economic system, prolong tools life, enhance operator satisfaction and decrease the full value of auto and tools operation. Afton Chemical Company develops and sells an intensive line of distinctive components for gasoline and distillate fuels, driveline fluids, engine oils and industrial lubricants. Afton Chemical Company helps world operations via regional headquarters positioned in Asia Pacific, EMEAI, Latin America and North America. Afton Chemical Company is headquartered in Richmond, Virginia. For extra info, go to www.aftonchemical.com.
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