Afton Chemical (Richmond, Virginia) has completed the previously announced acquisition of Aditivos Mexicanos (AMSA; Mexico City), a petroleum additives manufacturer.
The completion follows approval by Mexico’s Federal Economic Competition Commission. The deal’s value was not disclosed on a Form 8-K filed by NewMarket Corp. (Richmond), Afton’s parent. The deal was originally announced in December 2016.
The acquisition complements and expands Afton’s footprint in Latin America, which includes subsidiaries in Brazil, Mexico, Argentina, and Venezuela, the company says.
The transition of AMSA into Afton will begin immediately, Afton says. Customers in Mexico will shortly receive details explaining how the integration affects them.
“We plan to manufacture a complete range of petroleum additives for our customers in Mexico and throughout Latin America. We will also supply our other blending locations with components from the AMSA site,” says Rob Shama, president of Afton.
By Francinia Protti-Alvarez
Source: Chemical Week
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