Market Overview

Ingevity to acquire remaining interest in Purification Cellutions activated carbon joint venture


Ingevity Corporation (NYSE:NGVT) has signed an agreement to acquire the
remaining 30 percent interest in the joint venture Purification
Cellutions, LLC, Waynesboro, Georgia, from its partner Applied
Technology Limited Partnership, Doraville, Georgia. The purchase price
is approximately $80 million. The acquisition is expected to close in
the third quarter.

Ingevity currently owns 70 percent of Purifications Cellutions. The
joint venture manufactures "honeycomb" scrubbers which are key
components of Ingevity's technology used by the automotive industry to
comply with U.S. Environmental Protection Agency (EPA) Tier 3 and
California LEV III gasoline vapor emission control standards.

"This acquisition of the remainder of Purifications Cellutions is
further evidence of our strong commitment to serving our automotive
customers," said Michael Wilson, Ingevity's president and CEO. "We
remain confident in the long-term prospects for gasoline vapor emission
control applications. We are excited to complete this acquisition which
will strengthen our operational control and flexibility and give us full
value for our investment in new technologies."

Purifications Cellutions has been rapidly expanding its production
capacity at Waynesboro. The plant began operations in 2002, and
currently employs approximately 200 people.

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

Forward-Looking Statements

This press release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. Such
forward looking statements generally include the words "may," "could,"
"should," "believes," "plans," "intends," "targets," "will," "expects,"
"suggests," "anticipates," "outlook," "continues," "forecast,"
"prospect," "potential" or similar expressions. Forward-looking
statements may include, without limitation, the anticipated timing of
the closing of the acquisition and the potential benefits of the
acquisition. Like other businesses, the Company is subject to risks and
uncertainties that could cause its actual results to differ materially
from its expectations or that could cause other forward-looking
statements to prove incorrect. 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, risks related to the
satisfaction of the conditions to closing the acquisition in the
anticipated timeframe or at all, and risks that the expected benefits
from the proposed acquisition will not be realized. These and other
important factors that could cause actual results or events to differ
materially from those expressed in forward-looking statements are and
will be more particularly described in our filings with the U.S.
Securities and Exchange Commission, including our Form 10-K for the year
ended December 31, 2017 and our other periodic filings. Readers are
cautioned not to place undue reliance on Ingevity's projections and
forward-looking statements, which speak only as the date thereof.
Ingevity undertakes no obligation to publicly release any revision to
the projections and forward-looking statements contained in this
announcement, or to update them to reflect events or circumstances
occurring after the date of this announcement.

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