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Innospec Breaks Ground on New Site for Manufacture of Drag Reducing Agents (DRA)

INNOSPEC (IOSP)  More Company Research Source: GlobeNewswire
Last innospec earnings: 8/7 04:45 pm Check Earnings Report
US:NASDAQ Investor Relations: innospecinc.com/investor-relations
PDF ENGLEWOOD, Colo., May 21, 2018 (GLOBE NEWSWIRE) -- Innospec Inc. (NASDAQ:IOSP) today announced that it has broken ground on its new facility to manufacture Drag Reducing Agents (DRAs). The site is at Pleasanton, TX, USA and is an extension of the existing Innospec site. The project is well advanced and the company expects beneficial production later in the second half of 2018. Patrick S. Williams, President and Chief Executive Officer said, “DRAs are a fast growing, exciting, cutting-edge technology which has the dual benefit of both improving productivity and cutting costs for our customers. We are delighted to have developed our own proprietary products and manufacturing process, which will be very complementary to our existing portfolio and will allow us to serve our customers globally.” These products act by reducing the turbulent flow of liquids cost-effectively to improve pipeline throughput and reduce the energy required for pumping. The technology can be applied to crude [Read more]

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