NEWARK, Del., Sept. 12, 2007 (PRIME NEWSWIRE) -- Innospec Inc. (Nasdaq:IOSP) today announced that its Ellesmere Port, U.K., production facility was recently awarded a Gold Medal by the Royal Society for the Prevention of Accidents (RoSPA). This prestigious award recognizes the plant's outstanding safety, health and environmental performance. Innospec was one of only nine chemical companies in the U.K. to receive a Gold Medal from RoSPA.
Innospec began participating in the RoSPA program in 1998, when the Ellesmere Port site faced a number of serious safety and environmental challenges. The facility qualified for this year's Gold Medal by winning Gold Certificates from RoSPA for five consecutive years, and by demonstrating continuous improvements and progress each year.
Paul Jennings, Innospec's President and CEO, said, "The dramatic improvement in the safety, health and environmental performance of the Ellesmere Port site over the last 10 years is a great example of what we can achieve when everyone at Innospec is moving forward in one direction. Winning this Gold Medal from RoSPA sends a clear message about how important safety and training is to Innospec."
Ellesmere Port is one example among many Innospec manufacturing operations that have been recognized for making significant improvements with respect to safety. Also in the U.K., the company's Widnes site recently achieved its first RoSPA certificate.
In the U.S., the North Carolina Department of Labor honored two Innospec facilities producing performance chemicals for outstanding on-the-job safety achievements during 2006 at its biannual safety awards banquet. The company's Highpoint, NC site received its sixth award for its excellent safety record, while the Spencer, NC site was awarded its fifth SHARP award (Safety & Health Awareness Recognition Program).
In addition, the U.K. Chemical Industry Association recently presented Innospec with a Sustainable Development Certificate of Excellence, in recognition of the company's progress in meeting challenging interim goals set for environmental improvements at all of its sites. In 2006, the achievements across Innospec's global manufacturing base included:
* an 8 percent improvement in energy efficiency
* a 16 percent improvement in water use efficiency
* a 36 percent reduction in the generation of hazardous waste
Another example of Innospec's pursuit of excellence in the workplace is the company's involvement in the National Skills Academy Process Industries (NSAPI). Innospec has joined 40 chemicals, pharmaceuticals and polymer companies that have contributed over $2 million to the Academy, for the purpose of developing an improved "gold standard" training benchmark and infrastructure within the U.K.'s process industries. From its headquarters in the North East, NSAPI is working with employers nationwide to increase the skills and competitiveness of their workforce.
About Innospec Inc.
Innospec Inc. is an international specialty chemicals company with almost 1,000 employees in 23 countries. Innospec divides its operations into three distinct business areas: Fuel Specialties, Performance Chemicals, and Octane Additives. Together, the three businesses manufacture and supply a wide range of specialty chemicals to markets in the Americas, Europe, the Middle East, Africa and Asia-Pacific. Innospec's Fuel Specialties business specializes in manufacturing and supplying the fuel additives that help improve fuel efficiency, boost engine performance and reduce harmful emissions. Innospec's Performance Chemicals business includes a range of companies that manufacture performance chemicals used in the manufacture of such items as personal care products, household detergents and crop protection chemicals as well as in the plastics, paper, metal plating and oil industries. Innospec's Octane Additives business is the world's only producer of tetra ethyl lead.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements which address operating performance, events or developments that we expect or anticipate will occur in the future. Although such statements are believed by management to be reasonable when made, caution should be exercised not to place undue reliance on forward-looking statements, which are subject to certain risks, uncertainties and assumptions. If the risks or uncertainties ever materialize or the assumptions prove incorrect, actual results may differ materially from those expressed or implied by such forward-looking statements and assumptions. Risks, assumptions and uncertainties include, without limitation, changes in the terms of trading with significant customers or gain or loss thereof, our ability to continue to achieve organic growth in our Fuel Specialties and Performance Chemicals businesses, our ability to successfully integrate any acquisitions in those business segments, the effects of changing government regulations and economic and market conditions, competition and changes in demand and business and legal risks inherent in non-U.S. activities, including political and economic uncertainty, import and export limitations and market risks related to changes in interest rates and foreign exchange rates, government investigations, material fines or other penalties resulting from the Company's voluntary disclosure to the Office of Foreign Assets Control of the U.S. Department of the Treasury or other regulatory actions and other risks, uncertainties and assumptions identified in the Company's Annual Report on Form 10-K for the year ended December 31, 2006 and those identified in the Company's other reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.