Feb 18, 2021
Ingevity to add caprolactone polyol production in DeRidder, Louisiana
NORTH CHARLESTON, S.C., Feb. 18, 2021 – Ingevity Corporation (NYSE: NGVT) today announced that it will add caprolactone polyol production capabilities at its facility in DeRidder, Louisiana. Global demand for its Capa® suite of caprolactone technologies primarily for industrial equipment, adhesives, coatings, and automotive applications is increasing. The DeRidder upgrades will increase Ingevity’s global polyol production capacity by 40%, positioning the company to better meet demand and more effectively serve its customers.
Ingevity’s caprolactone technologies are made possible through a unique ring-opening polymerization process, whereby polycaprolactone monomer can be derivatized into proprietary, value-added polyols and thermoplastics. The investment in Ingevity’s DeRidder plant will include installation of monomer storage capacity to not only support the manufacturing of polyol derivatives, but also to streamline and enable bulk monomer shipments to U.S. customers. Ingevity expects construction in DeRidder to begin in the summer of 2021 and the new capacity to be operational by the first quarter of 2022.
“Our Engineered Polymers business continues to experience increasing demand for our Capa portfolio in a variety of demanding, high-performance end-use applications,” said Mike Smith, executive vice president and president, Performance Chemicals, at Ingevity. “We continue to invest in the Capa platform in terms of innovation, production and customer partnerships.” Ingevity’s Warrington, U.K.-based Capa innovation center is expected to be operational by the winter of 2021 and will house state-of-the art equipment and testing capabilities dedicated to accelerating application development for the Capa brand.
“The plant upgrades in DeRidder better position Ingevity to not only meet increased global demand for our Capa technologies, but will improve the supply chain, decrease lead times and enhance overall service for customers across the globe,” said Steve Hulme, Ingevity’s vice president, Engineered Polymers.
Ingevity’s DeRidder plant has been in operation since 1977, employs 187 people and includes production of emulsifiers, rosin and tall oil fatty acid used in a variety of applications such as adhesives, asphalt additives, publication inks, metalworking fluids, drilling fluid additives, oilfield production chemicals, paints and coatings. Ingevity also operates a polycaprolactone production facility in Warrington, U.K.
Ingevity: Purify, Protect and Enhance
Ingevity provides products and technologies that purify, protect, and enhance the world around us. Through a team of talented and experienced people, we develop, manufacture and bring to market solutions that help customers solve complex problems and make the world more sustainable. We operate in two reporting segments: Performance Chemicals, which includes specialty chemicals and engineered polymers; and Performance Materials, which includes high-performance activated carbon. These products are used in a variety of demanding applications, including asphalt paving, oil exploration and production, agrochemicals, adhesives, lubricants, publication inks, coatings, elastomers, bioplastics 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 1,750 people. The company is traded on the New York Stock Exchange (NYSE: NGVT). For more information visit www.ingevity.com.
About Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such statements generally include the words “will,” “plans,” “intends,” “targets,” “expects,” “outlook,” or similar expressions. Forward-looking statements may include, without limitation, production plans, expected financial positions, results of operations and cash flows; financing plans; business strategies and expectations; operating plans; and the impact of COVID-19. Actual results could differ materially from the views expressed. Factors that could cause actual results to materially differ from those contained in the forward-looking statements, or that could cause other forward-looking statements to prove incorrect, include, without limitation, adverse effects from the COVID-19 pandemic; adverse effects of general economic and financial conditions; risks related to international sales and operations; and the other factors detailed from time to time in the reports we file with the SEC, including those described under “Risk Factors” in our Annual Report on Form 10-K and other periodic filings. These forward-looking statements speak only as of the date of this press release. Ingevity assumes no obligation to provide any revisions to, or update, any projections and forward-looking statements contained in this press release.