Ingevity to add caprolactone polyol production in DeRidder, Louisiana
February 18 2021 - 4:15PM
Business Wire
Ingevity Corporation (NYSE: NGVT) today announced that it will
add caprolactone polyol production capabilities at its facility in
DeRidder, Louisiana. Global demand for its Capa® suite of
caprolactone technologies primarily for industrial equipment,
adhesives, coatings, and automotive applications is increasing. The
DeRidder upgrades will increase Ingevity’s global polyol production
capacity by 40%, positioning the company to better meet demand and
more effectively serve its customers.
Ingevity’s caprolactone technologies are made possible through a
unique ring-opening polymerization process, whereby
polycaprolactone monomer can be derivatized into proprietary,
value-added polyols and thermoplastics. The investment in
Ingevity’s DeRidder plant will include installation of monomer
storage capacity to not only support the manufacturing of polyol
derivatives, but also to streamline and enable bulk monomer
shipments to U.S. customers. Ingevity expects construction in
DeRidder to begin in the summer of 2021 and the new capacity to be
operational by the first quarter of 2022.
“Our Engineered Polymers business continues to experience
increasing demand for our Capa portfolio in a variety of demanding,
high-performance end-use applications,” said Mike Smith, executive
vice president and president, Performance Chemicals, at Ingevity.
“We continue to invest in the Capa platform in terms of innovation,
production and customer partnerships.” Ingevity’s Warrington,
U.K.-based Capa innovation center is expected to be operational by
the winter of 2021 and will house state-of-the art equipment and
testing capabilities dedicated to accelerating application
development for the Capa brand.
“The plant upgrades in DeRidder better position Ingevity to not
only meet increased global demand for our Capa technologies, but
will improve the supply chain, decrease lead times and enhance
overall service for customers across the globe,” said Steve Hulme,
Ingevity’s vice president, Engineered Polymers.
Ingevity’s DeRidder plant has been in operation since 1977,
employs 187 people and includes production of emulsifiers, rosin
and tall oil fatty acid used in a variety of applications such as
adhesives, asphalt additives, publication inks, metalworking
fluids, drilling fluid additives, oilfield production chemicals,
paints and coatings. Ingevity also operates a polycaprolactone
production facility in Warrington, U.K.
Ingevity: Purify, Protect and Enhance
Ingevity provides products and technologies that purify,
protect, and enhance the world around us. Through a team of
talented and experienced people, we develop, manufacture and bring
to market solutions that help customers solve complex problems and
make the world more sustainable. We operate in two reporting
segments: Performance Chemicals, which includes specialty chemicals
and engineered polymers; and Performance Materials, which includes
high-performance activated carbon. These products are used in a
variety of demanding applications, including asphalt paving, oil
exploration and production, agrochemicals, adhesives, lubricants,
publication inks, coatings, elastomers, bioplastics and automotive
components that reduce gasoline vapor emissions. Headquartered in
North Charleston, South Carolina, Ingevity operates from 25
locations around the world and employs approximately 1,750 people.
The company is traded on the New York Stock Exchange (NYSE: NGVT).
For more information visit www.ingevity.com.
About Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Securities Exchange Act of 1934, as amended, and
the Private Securities Litigation Reform Act of 1995. Such
statements generally include the words “will,” “plans,” “intends,”
“targets,” “expects,” “outlook,” or similar expressions.
Forward-looking statements may include, without limitation,
production plans, expected financial positions, results of
operations and cash flows; financing plans; business strategies and
expectations; operating plans; and the impact of COVID-19. Actual
results could differ materially from the views expressed. Factors
that could cause actual results to materially differ from those
contained in the forward-looking statements, or that could cause
other forward-looking statements to prove incorrect, include,
without limitation, adverse effects from the COVID-19 pandemic;
adverse effects of general economic and financial conditions; risks
related to international sales and operations; and the other
factors detailed from time to time in the reports we file with the
SEC, including those described under "Risk Factors" in our Annual
Report on Form 10-K and other periodic filings. These
forward-looking statements speak only as of the date of this press
release. Ingevity assumes no obligation to provide any revisions
to, or update, any projections and forward-looking statements
contained in this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20210218005105/en/
Amy Chiconas
843-746-8197 amy.chiconas@ingevity.com
Investors: Jack
Maurer 843-746-8242
investors@ingevity.com
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