Aug 14, 2018
Ingevity to increase and upgrade activated carbon extrusion in Covington, Virginia
PRESS RELEASE
NORTH CHARLESTON, S.C., Aug. 14, 2018 – Ingevity Corporation (NYSE: NGVT) today announced that it will increase extrusion capacity at its Covington, Virginia, facility in response to continued significant growth in global demand for its extruded activated carbon pellet products. These are used primarily in gasoline vapor emission control systems in cars, trucks, motorcycles and boats.
The upgrades will include adding the use of a new pellet extrusion technology that will improve quality, consistency and throughput. This same technology is currently in use at the company’s activated carbon extrusion facility in Wujiang, China, and will also be implemented at Ingevity’s new extrusion facility being constructed in Changshu, China.
The additional equipment and technology upgrades will increase total extrusion capacity in Covington by 10 to 20 percent. Representing an investment of $15-20 million, the new capacity is expected to be operational by the third quarter of 2019.
In May, Ingevity announced that it would increase its carbon activation capacity in Covington by 20 percent at a cost of $35-40 million.
“Our Performance Materials segment continues to experience an unprecedented demand for its advanced activated carbon pellet products for automotive applications,” said Michael Wilson, Ingevity’s president and CEO. “As global regulations become more stringent, we will continue to invest in our production and technical capabilities to meet our customers’ requirements.”
He added that this project is included in the company’s most recent capital expenditure and cash flow guidance.
“As the overall global automotive application grows for our extruded activated carbon pellet products, our customers are shifting from an existing product to a new, improved product that requires new technologies to manufacture,” said Ed Woodcock, executive vice president and president, Performance Materials. “With the extrusion capability upgrades and increased extrusion capacity at our Covington facility, we will be more prepared to meet not only increased demand but enhanced quality requirements.”
In addition to the extrusion facilities in Covington and Wujiang, and the nearly completed extrusion facility in Changshu, Ingevity has carbon activation facilities in Covington and Wickliffe, Kentucky, and a “honeycomb” scrubber plant in Waynesboro, Georgia.
Ingevity has produced and sold activated carbon for more than a century, including over 40 years in the automotive market. With over 900 million units installed globally, they are the global leader in the automotive application.
Ingevity: Purify, Protect and Enhance
Ingevity provides specialty chemicals and high-performance carbon materials and technologies that purify, protect and enhance the world around us. Through a team of talented and experienced people, Ingevity develops, manufactures and brings to market products and processes that help customers solve complex problems. These products are used in a variety of demanding applications, including asphalt paving, oil exploration and production, agrochemicals, adhesives, lubricants, publication inks 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 1,600 people. The company is traded on the New York Stock Exchange (NYSE: NGVT). For more information visit www.ingevity.com.
