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Type | Public |
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NYSE: NEU S&P 400 Component | |
Industry | Chemicals |
Founded | 1887 (as Albemarle Paper Manufacturing Company) |
Headquarters | Richmond, Virginia, U.S. |
Area served | Worldwide |
Key people | Thomas E. Gottwald (Chairman, CEO), William J.Skrobacz (CFO) |
Products | Petroleum Additives |
Revenue | US$2.765 billion (2022) |
US$355.139 million (2022) | |
US$279.538 million (2022) | |
Total assets | US$2.407 billion (2022) |
Total equity | US$762.407 million (2022) |
Number of employees | 2,104 [ citation needed ] (2021) |
Website | newmarket.com |
Footnotes /references [1] |
NewMarket Corporation is a publicly traded (NYSE: NEU), company that primarily serves the petroleum additives industry. The company is based in Richmond, Virginia, and has operations in North America, Latin America, Europe, the Middle East and Asia Pacific. The company's predecessor, the Albemarle Paper Manufacturing Company, was founded in 1887. [2]
NewMarket Corporation employs more than 2,100 employees [3] across its global operations, with an annual revenue of more than $2 billion. [4] The primary business of the company and its subsidiaries is the development, manufacturing, blending and global marketing of fuel and oil additives. [5]
NewMarket Corporation produces lubricant and fuel additives through two subsidiaries: Afton Chemical Corporation and Ethyl Corporation. Two additional subsidiaries, NewMarket Services Corporation and NewMarket Development Corporation, primarily provide operational support.[ citation needed ]
Afton Chemical Corporation
Afton Chemical Corporation produces fuel additives and lubricant additives. [6] The company also produces driveline additives and a variety of industrial additives, such as hydraulic lubricants and metalworking fluid components. [7]
Afton Chemical has manufacturing locations throughout the United States, as well as in Belgium, England, India, China, Brazil [8] Mexico [9] and Singapore [10] The company also has regional offices in North America, Latin America, Asia Pacific, Europe, India and the Middle East [11] and a R&D technical center for vehicle-based research in Ashland, Virginia. [12]
Gina Harm is the president of Afton Chemical. [13]
Ethyl Corporation
Ethyl provides contract manufacturing services to Afton and to third parties and is a marketer of tetraethyl lead in North America. [14] The company was founded in 1924 after Charles Kettering and a team of scientists discovered an anti-knocking agent for vehicle engines in 1921. [15] Ethyl Corporation is based in Richmond, Virginia, and has a manufacturing plant in Houston, Texas. [16] John Street is the president of Ethyl Corporation.
NewMarket Services Corporation
NewMarket Services Corporation provides administrative services to NewMarket Corporation and its subsidiaries. [17]
NewMarket Development Corporation
New Market Development Corporation manages the approximately 57-acre property that NewMarket Corporation owns in Richmond, Virginia. [18]
NewMarket Corporation was founded in 1887 as the Albemarle Paper Manufacturing Company. [19] In 1964, Albemarle Paper Manufacturing Company acquired Ethyl Corporation, [20] a company started in 1924 by Charles Kettering following the development of Tetraethyllead, an anti-knocking agent for gasoline engines in passenger vehicles. [21]
Ethyl Corporation acquired Edwin Cooper, Inc., a supplier of oil and lubricant additives, in 1975. [22] The acquisitions continued with U.S.-based Amoco Petroleum Additives [23] and Japan-based Nippon Cooper in 1992, [24] and Texaco Additives Company in 1996. [25]
NewMarket Corporation was incorporated in 2004 and renamed its Ethyl Petroleum Additives, Inc. subsidiary as Afton Chemical Corporation. [26] Afton acquired GE Water & Process Technologies’ fuel additives business in 2008 [27] and acquired metalworking additives producer Polartech in 2010. [28]
A lubricant is a substance that helps to reduce friction between surfaces in mutual contact, which ultimately reduces the heat generated when the surfaces move. It may also have the function of transmitting forces, transporting foreign particles, or heating or cooling the surfaces. The property of reducing friction is known as lubricity.
Motor oil, engine oil, or engine lubricant is any one of various substances used for the lubrication of internal combustion engines. They typically consist of base oils enhanced with various additives, particularly antiwear additives, detergents, dispersants, and, for multi-grade oils, viscosity index improvers. The main function of motor oil is to reduce friction and wear on moving parts and to clean the engine from sludge and varnish (detergents). It also neutralizes acids that originate from fuel and from oxidation of the lubricant (detergents), improves the sealing of piston rings, and cools the engine by carrying heat away from moving parts.
Jurong Island is an island located to the southwest of the main island of Singapore. It was formed from the amalgamation of seven offshore islands, the islands of Pulau Ayer Chawan, Pulau Ayer Merbau, Pulau Merlimau, Pulau Pesek, Pulau Pesek Kechil, Pulau Sakra, Pulau Seraya, Pulau Meskol, Pulau Mesemut Laut, Pulau Mesemut Darat and Anak Pulau. This was done through Singapore's land reclamation efforts. Land reclamation on Jurong Island was completed on 25 September 2009, 20 years earlier than scheduled. Pulau Buaya was joined to Jurong Island via reclamation in 2010. Jurong Island forms a land area of about 32 km2 (12 sq mi) from an initial area of less than 10 km2 (4 sq mi), and is the largest of Singapore's outlying islands.
Synthetic oil is a lubricant consisting of chemical compounds that are artificially modified or synthesised. Synthetic lubricants can be manufactured using chemically modified petroleum components rather than whole crude oil, but can also be synthesized from other raw materials. The base material, however, is still overwhelmingly crude oil that is distilled and then modified physically and chemically. The actual synthesis process and composition of additives is generally a commercial trade secret and will vary among producers.
Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011.
Methylcyclopentadienyl manganese tricarbonyl (MMT or MCMT) is an organomanganese compound with the formula (C5H4CH3)Mn(CO)3. Initially marketed as a supplement for use in leaded gasoline, MMT was later used in unleaded gasoline to increase the octane rating. Following the implementation of the Clean Air Act (United States) (CAA) in 1970, MMT continued to be used alongside tetraethyl lead (TEL) in the US as leaded gasoline was phased out (prior to TEL finally being banned from US gasoline in 1995), and was also used in unleaded gasoline until 1977. Ethyl Corporation obtained a waiver from the U.S. EPA (Environmental Protection Agency) in 1995, which allows the use of MMT in US unleaded gasoline (not including reformulated gasoline) at a treat rate equivalent to 8.3 mg Mn/L (manganese per liter).
Ethyl Corporation is a fuel additive company headquartered in Richmond, Virginia, in the United States. The company is a distributor of fuel additives. Among other products, Ethyl Corporation distributes tetraethyl lead, an additive used to make leaded gasoline.
Butyl rubber, sometimes just called "butyl", is a synthetic rubber, a copolymer of isobutylene with isoprene. The abbreviation IIR stands for isobutylene isoprene rubber. Polyisobutylene, also known as "PIB" or polyisobutene, (C4H8)n, is the homopolymer of isobutylene, or 2-methyl-1-propene, on which butyl rubber is based. Butyl rubber is produced by polymerization of about 98% of isobutylene with about 2% of isoprene. Structurally, polyisobutylene resembles polypropylene, but has two methyl groups substituted on every other carbon atom, rather than one. Polyisobutylene is a colorless to light yellow viscoelastic material. It is generally odorless and tasteless, though it may exhibit a slight characteristic odor.
Bayway Refinery is a refining facility in the Port of New York and New Jersey, owned by Phillips 66. Located in Linden and Elizabeth, New Jersey, and bisected by Morses Creek, it is the northernmost refinery on the East Coast of the United States. The oil refinery converts crude oil into gasoline, diesel fuel, jet fuel, propane and heating oil. As of 2007, the facility processed approximately 238,000 bbl/d (37,800 m3/d) of crude oil, producing 145,000 bbl/d (23,100 m3/d) of gasoline and 110,000 bbl/d (17,000 m3/d) of distillates. Its products are delivered to East Coast customers via pipeline transport, barges, railcars and tank trucks.
Sigma-Aldrich is an American chemical, life science, and biotechnology company owned by the multinational chemical conglomerate Merck Group.
Albemarle Corporation is an American specialty chemicals manufacturing company based in Charlotte, North Carolina. It operates 3 divisions: lithium, bromine specialties and catalysts.
Hindustan Petroleum Corporation Limited (HPCL), commonly referred to as HP, is a subsidiary of Oil and Natural Gas Corporation (ONGC) which is in turn under the ownership of the Ministry of Petroleum and Natural Gas, Government of India. It is headquartered in Mumbai. Since 2018, Oil and Natural Gas Corporation has owned majority of its stake. It is ranked 367th on the Fortune Global 500 list of the world's biggest corporations as of 2016. On 24 October 2019, it became a Maharatna (PSU).
Petron Corporation is the largest oil refining and marketing company in the Philippines, supplying more than a third of the country's oil requirements. It operates a refinery in Limay, Bataan with a rated capacity of 180,000 barrels per day (29,000 m3/d). From the refinery, Petron moves its products mainly by sea to 32 depots and terminals throughout the country.
Chemtura Corporation was a global corporation headquartered in Philadelphia, Pennsylvania, with its other principal executive office in Middlebury, Connecticut. Merged into Lanxess in 2017, the company focused on specialty chemicals for various industrial sectors, and these were transportation, energy, and electronics. Chemtura operated manufacturing plants in 11 countries. Its primary markets were industrial manufacturing customers. The corporation employed approximately 2500 people for research, manufacturing, logistics, sales and administration. Operations were located in North America, Latin America, Europe and Asia. In addition, the company had significant joint ventures primarily in the United States. For the year ended December 31, 2015, the company's global core segment revenue was $1.61 billion. Chief executive officer was Craig A. Rogerson, who was also the president and chairman of the board of Chemtura Corporation. On April 21, 2017, Chemtura was acquired by the German chemical company Lanxess.
The Lubrizol Corporation is an American provider of specialty chemicals for the transportation, industrial and consumer markets. These products include additives for engine oils and other transportation-related fluids, additives for industrial lubricants, and additives for gasoline and diesel fuel. In addition, Lubrizol makes ingredients and additives for personal care products, pharmaceuticals and medical devices, specialty materials, including plastics technology, and coatings in the form of specialty resins and additives.
Arkema S.A. is a publicly listed, multi-national manufacturer of specialty materials, headquartered in Colombes, near Paris, France. It has three specialty materials segments ; adhesives, advanced materials and coatings. A further segment covers chemical intermediates.
General Talking Pictures Corp. v. Western Electric Co., 304 U.S. 175 (1938), was a case that the Supreme Court of the United States decided in 1938. The decision upheld so-called field-of-use limitations in patent licenses: it held that the limitations were enforceable in a patent infringement suit in federal court against the licensee and those acting in concert with it—for example, a customer that knowingly buys a patented product from the licensee that is outside the scope of the license.
Castrol India Limited is an automotive and industrial lubricant manufacturing company. Castrol India is the 2nd largest manufacturer of automotive and industrial lubricants in the Indian lubricant market and owns around 20% market share in the overall Indian lubricant market. It is part of Castrol Limited UK. It has 5 manufacturing plants that are networked with 270 distributors, serving over 70,000 retail outlets.
Afton Chemical Corporation develops and manufactures petroleum additives, including driveline, engine oil, fuel and industrial additives. Afton Chemical Corporation is headquartered in Richmond, Virginia, and has operations around the world. The company is a subsidiary of NewMarket Corporation, a corporation specializing in performance specialty chemicals.
ExxonMobil, an American multinational oil and gas corporation presently based out of Texas, has had one of the longest histories of any company in its industry. A direct descendant of John D. Rockefeller's Standard Oil, the company traces its roots as far back as 1886 to the founding of the Vacuum Oil Company, which would become part of ExxonMobil through its own merger with Mobil during the 1930s. The present name of the company comes from a 1999 merger of Standard Oil's New Jersey and New York successors, which adopted the names Exxon and Mobil respectively throughout the middle of the 20th century. Because of Standard Oil of New Jersey's ownership over all Standard Oil assets at the time of the 1911 breakup, ExxonMobil is seen by some as the definitive continuation of Standard Oil today.
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