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Afton Chemical Announces Investment in Brazil Petroleum Additive Facility

NEU | June 15, 2016

Afton Chemical Announces Investment in Brazil Petroleum Additive Facility

Afton Chemical Corporation announced a new investment in a petroleum additive facility at Bayer Industrial Park, in Belford Roxo, Rio de Janeiro. The new facility will be operated by Afton Chemical Indústria de Aditivos Ltda – a Brazil-based subsidiary of Afton Chemical Corporation. It will provide the additional infrastructure required to support the company’s long term growth plans in Brazil and the Latin America region.

“This investment reflects our commitment to this key strategic growing market,” said Pablo Blazquez, Afton’s Vice President of The Americas. “Since the acquisition of Texaco Additives businesses and facilities in 1996, Afton has established a significant presence in Brazil’s petroleum additives market. This new facility in Rio de Janeiro will help us to continue developing customer partnerships deploying our company’s Passion for Solutions^® in Brazil and the Latin America region.”

The new facility will be operational by mid-2017 and is designed to provide a safe and environmentally sound operation in full compliance with applicable regulations as well as with Bayer and Afton’s Policies. At the same time, the design provides cost effective security of supply and flexibility to grow as regional demand warrants.

“Afton is pleased to set up operations at Bayer’s Industrial Park in Rio de Janeiro and we are looking forward to the synergies that this arrangement will provide, reflecting the passion for safety, quality and innovation that both Companies share,” said Gina Harm, Afton’s Senior Vice President and Chief Operating Office. “In addition to expanding our capabilities to meet customer needs, the new facility will be scalable to support future market growth.”

The new facility complements and expands Afton’s current footprint in Latin America, which includes subsidiaries in Brazil, Mexico, Argentina and Venezuela.

About Afton Chemical Corporation

Afton Chemical Corporation is part of the NewMarket Corporation (NYSE: NEU) family of companies. Afton Chemical Corporation uses its formulation, engineering and marketing expertise to help their customers develop and market fuels and lubricants that reduce emissions, improve fuel economy, extend equipment life, improve operator satisfaction and lower the total cost of vehicle and equipment operation. Afton Chemical Corporation develops and sells an extensive line of unique additives for gasoline and distillate fuels, driveline fluids, engine oils and industrial lubricants. Afton Chemical Corporation supports global operations through regional headquarters located in Asia Pacific, EMEAI, Latin America and North America. Afton Chemical Corporation is headquartered in Richmond, Virginia. For more information, visit www.aftonchemical.com.

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Some of the information contained in this press release constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although NewMarket’s management believes its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results will not differ materially from expectations.

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