Market Overview

Ingevity completes acquisition of remaining interest in Purification Cellutions


Ingevity Corporation (NYSE:NGVT) completed its acquisition of the
remaining 30 percent interest in the joint venture Purification
Cellutions, LLC, Waynesboro, Georgia, from its partner Applied
Technology Limited Partnership, Doraville, Georgia, on Aug. 1, 2018. The
purchase price was approximately $80 million. The Waynesboro facility
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 will
provide us with greater control and flexibility and ensure that we
capture 100 percent of the return on future technology and capacity
investments," said Michael Wilson, Ingevity's president and CEO. "We are
pleased to have been able to reach fair and mutually beneficial terms
that serve both companies' business objectives."

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, expected financial
positions, results of operations and cash flows; financing plans;
business strategies and expectations; operating plans; synergies and the
potential benefits of the acquisition of Georgia-Pacific's pine
chemicals business (the "acquisition"); capital and other expenditures;
competitive positions; growth opportunities for existing products;
benefits from new technology and cost-reduction initiatives, plans and
objectives; and markets for securities. Like other businesses, Ingevity
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 that
the expected benefits from the acquisition will not be realized or will
not be realized in the expected time period; the risk that the
businesses will not be integrated successfully; significant transaction
costs; unknown or understated liabilities; general economic and
financial conditions; international sales and operations; currency
exchange rates and currency devaluation; compliance with U.S. and
foreign regulations; attracting and retaining key personnel; conditions
in the automotive market or adoption of alternative technologies;
worldwide air quality standards; government infrastructure spending;
declining volumes in the printing inks market; the limited supply of
crude tall oil ("CTO"); lack of access to sufficient CTO; access to and
pricing of raw materials; competition from producers of substitute
products and new technologies; a prolonged period of low energy prices;
the provision of services by third parties at several facilities;
natural disasters, such as hurricanes, winter or tropical storms,
earthquakes, floods, fires; other unanticipated problems such as labor
difficulties including renewal of collective bargaining agreements,
equipment failure or unscheduled maintenance and repair; protection of
intellectual property and proprietary information; information
technology security risks; government policies and regulations,
including, but not limited to, those affecting the environment, climate
change, tax policies, tariffs and the chemicals industry; and lawsuits
arising out of environmental damage or personal injuries associated with
chemical or other manufacturing processes. These and other important
factors that could cause actual results or events to differ materially
from those expressed in forward-looking statements that may have been
made in this document 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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