Afton Chemical Corporation, a global leader in the lubricant and fuel additive market and wholly owned subsidiary of NewMarket Corporation (NYSE:NEU), announced the entry into a definitive purchase agreement to acquire Aditivos Mexicanos, S.A. de C.V. (AMSA) for approximately $182.5 million. AMSA is a petroleum additives manufacturing, sales and distribution company based in Mexico City, Mexico.
“This acquisition represents a significant step for Afton in expanding our global capabilities to bring value added solutions to our customers worldwide,” said Rob Shama, Afton Chemical’s President. “We are pleased to have the dedicated AMSA team become part of the Afton family, and we look forward to utilizing their expertise in the petroleum additives market.”
The transaction is expected to close during the first half of 2017. The closing is conditioned upon the satisfaction or waiver of customary closing conditions, including the approval of the Mexican Federal Economic Competition Commission (Comisión Federal de Competencia Económica).