NewMarket Corporation (NYSE:NEU) is pleased to announce that Mr. Robert A. Shama will be appointed President, Afton Chemical Corporation, replacing Dr. Warren Huang who will retire on April 1, 2013. Mr Shama, Afton’s Senior Vice President, North America, has over 32 years of chemical industry experience, including 21 years with Afton Chemical. He has run Afton’s North American business for 12 years, and he also currently serves as Afton’s Chief Marketing Officer, leading Afton’s global marketing activities. Mr. Shama has had extensive experience in sales, marketing, manufacturing and product development. After an orderly transition period, Rob will become President on January 1, 2013, at which time Warren will assume a senior advisory role.
Teddy Gottwald, CEO of NewMarket commented, “It is exciting to see Rob transition into the top role in Afton. Rob has extensive knowledge of the market and strong leadership skills. He has been a senior member of the Afton team for more than a decade, and he provides continuity to a very experienced Afton leadership team. I look forward to continued success for Afton under his direction.”
NewMarket Corporation through its subsidiaries, Afton Chemical Corporation and Ethyl Corporation, develops, manufactures, blends, and delivers chemical additives that enhance the performance of petroleum products. From custom-formulated chemical blends to market-general additive components, the NewMarket family of companies provides the world with the technology to make fuels burn cleaner, engines run smoother and machines last longer.
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.Factors that could cause actual results to differ materially from expectations include, but are not limited to: availability of raw materials and transportation systems; supply disruptions at single sourced facilities; ability to respond effectively to technological changes in our industry; failure to protect our intellectual property rights; hazards common to chemical businesses; occurrence or threat of extraordinary events, including natural disasters and terrorist attacks; competition from other manufacturers; sudden or sharp raw materials price increases; gain or loss of significant customers; risks related to operating outside of the United States; the impact of fluctuations in foreign exchange rates; political, economic, and regulatory factors concerning our products; future governmental regulation; resolution of environmental liabilities or legal proceedings; inability to complete future acquisitions or successfully integrate recent or future acquisitions into our business and other factors detailed from time to time in the reports that NewMarket files with the Securities and Exchange Commission, including the risk factors in Item 1A, “Risk Factors” of our 2011 Annual Report on Form 10-K, which is available to shareholders upon request.
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