Afton Chemical to build new manufacturing facility in Singapore
RICHMOND, Va. — Afton Chemical Corp. announced Wednesday the construction of a new chemical additive manufacturing facility on Jurong Island, Singapore.
The multi-year investment will be fully owned and operated by Ricmond, Va.-based Afton.
Singapore was selected after an extensive analysis that focused on facility readiness and flexibility, market access, economics, safety and logistics.
“This represents an investment that is likely to exceed in excess of $100 million for Afton Chemical, and another strong commitment by our Board to this key market,” said Afton President Dr. Warren Huang. “We have established a significant presence through acquisitions and investments, and with the new facility on Jurong Island, we will continue to bring our company’s ‘Passion for Solutions’ to the Asia-Pacific region,” he said.
Groundbreaking for the plant is scheduled for the third quarter 2013, and it’s expected to be operational by mid-2015.