Enhanced lubricant additives testing capabilities at Afton’s
state-of-the-art facility helps customers deliver differentiated
solutions for their unique market
First paragraph, second sentence of release dated October 30,
2019, should read: Mr. Jon Heese, City Councilor for Tsukuba,
jointly opened the Japan Technology Center with Mrs. Regina A.
Harm, President of Afton Chemical Corporation and Mr. Sean Spencer,
Vice President and Managing Director of Afton Chemical Asia.
(instead of Mr. Jon Heese, City Councilor for Tsukuba, jointly
opened the Japan Technology Center with Mr. Teddy Gottwald,
Chairman and CEO of NewMarket Corporation and Mrs. Regina A. Harm,
President of Afton Chemical Corporation, subsidiary of
NewMarket.)
The corrected release reads:
AFTON CHEMICAL COMPLETES MULTIMILLION DOLLAR EXPANSION OF
JAPAN TECHNOLOGY CENTER IN TSUKUBA
Enhanced lubricant additives testing capabilities at Afton’s
state-of-the-art facility helps customers deliver differentiated
solutions for their unique market
Afton Chemical Corporation, a global leader in the lubricant and
fuel additive market, announced the completion of its Japan
Technology Center expansion in Tsukuba. Mr. Jon Heese, City
Councilor for Tsukuba, jointly opened the Japan Technology Center
with Mrs. Regina A. Harm, President of Afton Chemical Corporation
and Mr. Sean Spencer, Vice President and Managing Director of Afton
Chemical Asia.
The investment provides an expansion of the analytical and
mechanical laboratories to increase lubricant additive testing
capabilities. This includes standardized and bespoke tests for
transmission fluids, gear lubricants, passenger cars, motorcycles,
commercial and off-road vehicles engine oils as well as industrial
hydraulic oils. The expanded facility will provide its customers
with enhanced technical services such as sample blending,
physical/chemical analysis and performance testing that comply with
international and Japan unique test methods like ASTM, JIS, JPI,
JASO and JCMAS.
“We are committed to bringing our Passion for Solutions® model
to Japan and the Asia-Pacific region to help our customers
differentiate their offerings to meet the needs of the local
marketplace. The expanded Japan Technology Center with its
integrated technical support and performance testing will further
enhance our ability to provide quick and effective solutions to our
customers in Asia, and will provide customized solutions 'Made For'
key Japan OEM projects,” said Mrs. Regina A. Harm, President of
Afton Chemical Corporation.
“Afton Japan is a unique market with different needs and
challenges. The 'Made For' strategy is built on the intent to
understand the dynamics of each individual market and ensure we are
developing the correct solutions from a product and services
perspective. We constantly keep track of the local and global
trends impacting the market and partner our customers to develop
innovative additive solutions that exceed industry standards,” said
Mr. Sean Spencer, Vice President and Managing Director of Afton
Chemical Asia.
The expanded capabilities of the Japan Technology Center, with
its integrated technical support, will enhance our capability to
help customers:
- perform validation tests that comply with OEM, industry
standards and specifications
- develop Afton proprietary tests that focus on the needs of Asia
Pacific
- support and deliver their differentiated product performance
claims promptly
With the Japanese government’s recent announcement further
reducing the average vehicle fuel economy standards by 32% by 2030,
Japanese automobile manufacturers will have to sell more electric
and hybrid cars. “EV and Hybrid vehicles are equipped with
transmission like CVT, one-shift ATF as well as gear and bearing to
transfer and assist motor torque to wheels. Ultra-low viscosity oil
is one of the solutions to lower fuel economy. Afton is working
proactively with key OEMs worldwide to develop the technology and
lubricant needs for electric/hybrid vehicles. Afton is ready and
will have the most advanced additives to meet these new
requirements. Our additives will continue to help the automotive
industry reduce emissions, improve fuel economy, and extend the
useful life of fluids and equipment,” said Togawa Takayuki, R&D
Group Lead.
The Japan Technology Center’s state-of-the-art chemistry and
mechanical laboratories operate with lean processes and tests run
are in full compliance with ISO 9001/14001 safety, environmental
and quality standards. The state-of-the-art facility houses a team
of 17 R&D managers, formulators, technologists, technician and
administration staff, increasing the workforce by 100% since the
last decade.
Afton has an extensive network of research and development and
testing facilities in the United States, China, India, Japan and
the United Kingdom. At these facilities, testing is conducted to
ensure products meet or exceed the latest performance requirements
of both OEM and industry specifications. Proprietary tests are
developed and field trials are designed to create compelling proof
of performance data that helps our customers’ products stand out in
their markets.
About Afton Chemical Corporation:
Afton Chemical Corporation is part of the NewMarket Corporation
(NYSE: NEU) family of companies. Afton Chemical Corporation 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. Afton Chemical Corporation develops and sells
an extensive line of unique additives for gasoline and distillate
fuels, driveline fluids, engine oils and industrial lubricants.
Afton Chemical Corporation supports global operations through
regional headquarters located in Asia Pacific, EMEAI, Latin America
and North America. Afton Chemical Corporation is headquartered in
Richmond, Virginia. For more information, visit
www.aftonchemical.com.
Cautionary Note Regarding Forward-Looking Statements:
Some of the information contained in this press release
constitutes forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Although
NewMarket’s management believes its expectations are based on
reasonable assumptions within the bounds of its knowledge of its
business and operations, there can be no assurance that actual
results will not differ materially from expectations.
Factors that could cause actual results to differ materially
from expectations include, but are not limited to, the availability
of raw materials and distribution systems; disruptions at
production facilities, including single-sourced facilities; hazards
common to chemical businesses; the ability to respond effectively
to technological changes in our industry; failure to protect our
intellectual property rights; sudden or sharp raw material price
increases; competition from other manufacturers; the gain or loss
of significant customers; current and future governmental
regulations; failure to attract and retain a highly-qualified
workforce; the occurrence or threat of extraordinary events,
including natural disasters and terrorist attacks; risks related to
operating outside of the United States; the impact of substantial
indebtedness on our operational and financial flexibility; the
impact of fluctuations in foreign exchange rates; an information
technology system failure or security breach; resolution of
environmental liabilities or legal proceedings; political,
economic, and regulatory factors concerning our products;
limitation of our insurance coverage; our inability to realize
expected benefits from investment in our infrastructure or from
recent or future acquisitions, or our inability to successfully
integrate recent or future acquisitions into our business; the
underperformance of our pension assets resulting in additional cash
contributions to our pension plans; and other factors detailed from
time to time in the reports that NewMarket files with the
Securities and Exchange Commission, including the risk factors in
Item 1A. “Risk Factors” of our 2018 Annual Report on Form 10-K,
which is available to shareholders upon request.
You should keep in mind that any forward-looking statement made
by NewMarket in the foregoing discussion speaks only as of the date
on which such forward-looking statement is made. New risks and
uncertainties arise from time to time, and it is impossible for us
to predict these events or how they may affect the Company. We have
no duty to, and do not intend to, update or revise the
forward-looking statements in this discussion after the date
hereof, except as may be required by law. In light of these risks
and uncertainties, you should keep in mind that the events
described in any forward-looking statement made in this discussion,
or elsewhere, might not occur.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20191029005992/en/
AP: Chong Kit Lee on +65 6739 6330 or
KitLee.Chong@AftonChemical.com
EMEAI: Kate Edrupt on +44 1344 356823 or
Kate.Edrupt@AftonChemical.com
NA: Lauren Packard on +1 804 788 6081 or
Lauren.Packard@AftonChemical.com
JAPAN: Kyodo PR on +81-(0)3-3571-5258 or
afton-pr@kyodo-pr.co.jp
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