Innospec Responds to Revised First Reserve/SK Capital Offer for TPC Group
08 Novembre 2012 - 6:57PM
Innospec Inc. (Nasdaq:IOSP) today acknowledged reports of a revised
competing offer for TPC Group (Nasdaq:TPCG) by the investment
groups of First Reserve Corporation and SK Capital Partners.
Responding to statements made in the investment group's press
release about Innospec and its non-binding proposal, Patrick
Williams, President and CEO, noted, "We object strongly to the
statements they have made, some of which are either false or
misleading and which reflect a significant lack of understanding of
Innospec's business, its strategy and its proposal.
We have no additional comment at this time, and we refer you to
our previous statements and SEC filings on the matter."
About Innospec Inc.
Innospec Inc. is an international specialty chemicals company
with approximately 850 employees in 20 countries. Innospec
manufactures and supplies 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 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, pension liabilities and charges, net income,
growth potential and other measures of financial
performance). Although forward-looking statements are
believed by management to be reasonable when made, they are subject
to certain risks, uncertainties and assumptions, and our actual
performance or results may differ materially from these
forward-looking statements. 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, 2011, and other reports filed with the U.S. Securities
and Exchange Commission. You are urged to review our
discussion of risks and uncertainties that could cause actual
results to differ from forward-looking statements 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, except
as required by law.
For more information about Innospec, please visit our website at
www.innospecinc.com.
CONTACT: Brian Watt
Innospec Inc.
+44-151-356-6241
Brian.Watt@innospecinc.com
Robert D. Ferris
RF|Binder Partners
+1-212-994-7505
Robert.Ferris@RFBinder.com
Dan Scorpio
RF|Binder Partners
+1-212-994-7609
Dan.scorpio@rfbinder.com
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