NORTH CHARLESTON, South Carolina--(BUSINESS WIRE)--Ingevite Corporation (NYSE: NGVT) today announced that it will add a new facility to its plant in Derid, Louisiana. Production capacity of ester polyols. Global demand for Capa® caprolactone technology kits, mainly used in industrial equipment, adhesives, coatings, and automotive applications, is increasing. The DeRidder upgrade will increase Ingevity's global polyol production capacity by 40%, enabling the company to better meet demand and serve customers more effectively.
Ingevity's caprolactone technology is realized through a unique ring-opening polymerization process, through which polycaprolactone monomers can be derived into proprietary, value-added polyols and thermoplastics. The investment in Ingevity's DeRidder plant will include the installation of monomer storage capacity, which will not only support the manufacture of polyol derivatives, but also simplify and enable bulk monomer shipments to US customers. Ingevity expects that the construction of DeRidder will begin in the summer of 2021, and the new capacity will be put into operation in the first quarter of 2022.
Mike Smith, Executive Vice President and President of Ingevity High Performance Chemicals, said: "Our engineered polymers business has a growing demand for our Capa product portfolio in a variety of demanding high-performance end applications. "We will continue to innovate. , Production and customer partnerships to invest in the Capa platform. "Ingevity's Capa Innovation Center in Warrington, UK is expected to be put into operation in the winter of 2021, and will have the most advanced equipment and testing capabilities, dedicated to accelerating the development of Capa branded applications.
"DeRidder's factory upgrade enables Ingevity to better position itself not only to meet the growing global demand for our Capa technology, but also to improve the supply chain, shorten delivery times, and enhance the overall service provided to customers around the world," Ingevity Vice President Steve Hulme said, engineering polymers.
Ingevity’s DeRidder plant has been in operation since 1977 and has 187 employees, including the production of emulsifiers, rosin and tall oil fatty acids for various applications such as adhesives, asphalt additives, publishing inks, metalworking fluids, drilling fluids Additives, oil field production chemicals, paints and coatings. Ingevity also operates a polycaprolactone production facility in Warrington, UK
Ingevity: Purify, protect and enhance
Ingevity provides products and technologies that purify, protect and improve the world around us. Through a talented and experienced team, we develop, manufacture and launch solutions to help customers solve complex problems and make the world more sustainable. We operate in two reporting departments: high-performance chemicals, including specialty chemicals and engineering polymers; and high-performance materials, including high-performance activated carbon. These products are used in a variety of demanding applications, including asphalt paving, petroleum exploration and production, agrochemicals, adhesives, lubricants, publishing inks, coatings, elastomers, bioplastics, and automotive parts that reduce gasoline vapor emissions . Headquartered in North Charleston, South Carolina, Ingevity operates in 25 locations around the world and has approximately 1,750 employees. The company is listed on the New York Stock Exchange (NYSE: NGVT). For more information, please visit www.ingevity.com.
This press release contains "forward-looking statements" within the meaning of the revised Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Such statements usually include words such as "will", "plan", and "intend". , "Target", "expectation", "expectation" or similar expressions. Forward-looking statements may include, but are not limited to, production plans, expected financial conditions, operating results and cash flows; financing plans; business strategies and expectations; operating plans; and the impact of COVID-19. Actual results may differ materially from the opinions expressed. Factors that may cause actual results to differ materially from those contained in the forward-looking statements, or factors that may cause other forward-looking statements to prove to be incorrect, including but not limited to the adverse effects of the COVID-19 pandemic; general economic and financial conditions The adverse effects of international sales and operations; the risks associated with international sales and operations; and other factors detailed from time to time in our reports to the SEC, including those described in the "risk factors" in our annual report on Form 10-K and other periodic documents factor. These forward-looking statements were issued only on the date of this press release. Ingevity assumes no obligation to make any revisions or updates to any forecasts and forward-looking statements contained in this press release.
Amy Chiconas 843-746-8197 amy.chiconas@ingevity.com
Investor: Jack Maurer 843-746-8242 Investors@ingevity.com
Ingevity Corporation today announced that it will increase the production capacity of caprolactone polyols at its plant in DeRidder, Louisiana.
Amy Chiconas 843-746-8197 amy.chiconas@ingevity.com
Investor: Jack Maurer 843-746-8242 Investors@ingevity.com