Innospec's stock will begin trading on NASDAQ under the new symbol IOSP when the market opens on March 22, 2006.
Paul Jennings, President and Chief Executive Officer of Innospec, stated, "After careful analysis, we believe a NASDAQ listing switch will provide increased visibility for our shares and a more cost-effective trading solution. Our move to NASDAQ goes hand-in-hand with Innospec's new strategic direction as the leading provider of specialty chemical solutions in our chosen markets."
Bruce Aust, Executive Vice President, NASDAQ's corporate client group, said, "We are delighted to welcome Innospec as the first chemicals company to switch to a NASDAQ listing. Innospec joins many of the world's most innovative companies in recognizing that NASDAQ's more transparent, faster, electronic market is an ideal setting for a company that is seeking to broaden awareness about its new direction, core business focus and improved capital management."
Innospec Inc. is an international specialty chemicals company with almost 1,000 employees in 23 countries. Innospec divides its operations into three distinct business areas: Fuel Specialties, Performance Chemicals, and Octane Additives. Together, the three businesses manufacture and supply a wide range of specialty chemicals to markets in the Americas, Europe, the Middle East, Africa and Asia-Pacific. Innospec's Fuel Specialties business specializes in manufacturing and supplying the fuel additives that help improve fuel efficiency, boost engine performance and reduce harmful emissions. Innospec's Performance Chemicals business includes a range of companies that manufacture performance chemicals used in the manufacture of such items as personal care products, household detergents, crop protection chemicals as well as in the plastics, paper, metal plating and oil industries. Innospec's Octane Additives business is the world's only producer of tetra ethyl lead (TEL).
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