NEWARK, Del., July 20, 2010 (GLOBE NEWSWIRE) -- Innospec Inc. (Nasdaq:IOSP) has further extended the scope of its Sustainable Development program, details of which were published today in its 2009 Sustainable Development Report.
"We have been reporting a standard set of measures around the safety, health and environmental performances of all of our manufacturing sites for eleven years now," said Patrick Williams, President & CEO.
"Given the importance of climate change, we started to measure the CO2 and greenhouse gas impacts of our manufacturing operations in 2004, so that we were able to identify improvements. I'm delighted to report that, in 2009, we have taken the first steps to extend this and look at the impact of our products themselves."
He continued, "This will be part of a process to look at the environmental impact of many of our products, with a view to defining not only the greenhouse gases created in their manufacture, but also the benefits they bring about in use.
"In the meantime, I'm pleased to report significant improvement in many of our targets. Not only has our continued focus on safety meant that we have now worked 6.4 million man hours without an employee lost time accident, but we have also achieved:
- 27% reduction in water consumption (256,000 tonnes) companywide
- 22% reduction of soluble organic lead to water from our site at Ellesmere Port, UK
- 26% reduction in total organic carbon from our site at Vernon, France
- 75% reduction in chemical oxygen demand from our site in Herne, Germany
- 6.2% reduction in CO2 from our site in Spencer, NC, USA."
He concluded, "While it is satisfying to look back on what we achieved in 2009, we know that we must not be complacent. Our people are continually looking at how further improvements can be made, and we look forward to reporting these next year."
To request a hard copy of the 2009 report, please go to:
http://www.innospecinc.com/195/contact-us.html?pageID=185
Alternatively, a copy can be downloaded from:
http://www.innospecinc.com/about-us/sustainable-development.html
About Innospec Inc.
Innospec Inc. is an international specialty chemicals company with approximately 800 employees in 23 countries. Innospec manufactures and supplies a wide range of specialty chemicals to markets in the Americas, Europe, the Middle East, Africa and the Asia-Pacific region. 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 Active Chemicals business provides effective technology-based solutions for our customers' processes or products focused in the Personal Care; Household, Industrial & Institutional; and Fragrance Ingredients markets. Innospec's Octane Additives business is the world's only producer of tetra ethyl lead.
Forward-Looking Statements
This press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements. Such forward-looking statements include statements (covered by words like "expects", "anticipates", "may", "believes" or similar words or expressions), for example, which relate to operating performance, events or developments that we expect or anticipate will or may occur in the future (including, without limitation, any of the Company's guidance in respect of sales, gross margins, net income, growth potential and other measures of financial performance). Although forward-looking statements are believed by management to be reasonable when made, caution should be exercised not to place undue reliance on such statements because they are subject to certain risks, uncertainties and assumptions, including in respect of the general business environment, regulatory actions or changes. If the risks or uncertainties materialize or assumptions prove incorrect or change, our actual performance or results may differ materially from those expressed or implied by such forward-looking statements and assumptions. Additional information regarding risks, uncertainties and assumptions relating to the Company and affecting our business operations and prospects are described in the Company's Annual Report on Form 10-K for the year ended December 31, 2009, and other reports filed with the U.S. Securities and Exchange Commission. You are urged to carefully review and consider the cautionary statements and other disclosures made in those filings, specifically those under the heading "Risk Factors". 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.