Afton Chemical Corporation last Tuesday announced the opening of its manufacturing facility on Jurong Island, Singapore which was marked by a special visit by Singapores Minister for Trade and Industry, Mr S Iswaran.
The facility will now commence production of key components that are used in Afton Chemical Corporations engine oil additives to meet rising regional and global demand.
Todays opening marks the end of a significant development and construction process at our new, fully owned facility, which began back in 2014, said Rob Shama, President, Afton Chemical Corporation. More importantly, it marks the start of a new chapter where we are able to better secure the supply of key components for our customers to be able to meet their future growth aspirations.
The opening of the plant represents a new phase of Afton Chemical Corporations ongoing expansion into Asia Pacific, and is central to the companys plans to ensure that its specialist additive products are Made in Asia for Asia. The companys Made in Asia strategy is aimed at ensuring it has the right supply footprint to meet its customers needs. The organization already manages a number of other facilities across the region, including Technology Centers, in Suzhou, China and in Tsukuba Japan. Its Made for Asia strategy ensures that the products and services it offers are developed on the basis of regional insights.
This new manufacturing facility serves as a real vote of confidence in Singapore, a country with a robust infrastructure and a well-established position as a petro-chemicals and supply hub. This plant will further strengthen our global supply network, and help us and our customers to capitalize on the continuing migration of upstream capacities into the region, said Teddy Gottwald, President and CEO of NewMarket Corporation, the parent company of Afton Chemical Corporation.
Afton Chemical Corporations decision on Singapore as its principle additive manufacturing site in Asia attests to Singapores attractiveness as a location for companies looking to capture growth opportunities in this region and it reinforces Singapores position as the leading specialty chemicals hub in Asia, said Cindy Koh, Director, Energy and Chemicals, Singapore Economic Development Board. We look forward to writing their Asia growth story together.
The plant also has full capability to produce all of the engine oil additives needed for Asia region and is scalable to allow Afton Chemical Corporation to grow as demand warrants. In the longer term, additional units, such as specialty dispersants, may be added to produce other petroleum additive products in line with market and customer needs.
Headquartered in Richmond, Virginia, Afton Chemical Corporation supports global operations through regional headquarters located in Asia Pacific, EMEAI, Latin America and North America.
