Business
NewMarket Corporation Announces Approval of AMPAC Expansion
RICHMOND, Va., April 24, 2025--The Board of Directors of NewMarket Corporation announced its approval of the capital investment by its subsidiary American Pacific Corporation (AMPAC) of up to $100 million to expand AMPAC’s ammonium perchlorate production capabilities in support of growing solid rocket motor demand. This investment will allow AMPAC to construct an additional production line, increasing capacity by more than 50%. The increased capacity will allow AMPAC to meet the domestic demand
About this update from Newmarket Corp
[{"type":"text","content":"RICHMOND, Va., April 24, 2025--(BUSINESS WIRE)--The Board of Directors of NewMarket Corporation announced its approval of the capital investment by its subsidiary American Pacific Corporation (AMPAC) of up to $100 million to expand AMPAC’s ammonium perchlorate production capabilities in support of growing solid rocket motor demand. This investment will allow AMPAC to construct an additional production line, increasing capacity by more than 50%. The increased capacity will allow AMPAC to meet the domestic demand of US military and space launch programs, while also addressing the needs of US allies in these critical areas. The project is currently scheduled to be completed during 2026.","length":692,"tagName":"p"},{"type":"text","content":"Thomas E. Gottwald, NewMarket’s Chairman and CEO, said: "We are excited about the opportunity to continue to invest in AMPAC. We view AMPAC as a strategic, national asset with a mission-critical role in global safety, security, and space programs. This investment assures capacity to meet our customers’ growing needs while adding additional redundancy and security of supply into our production system. It also demonstrates our long-term commitment to the success of AMPAC and its stakeholders."","length":506,"tagName":"p"},{"type":"text","content":"ABOUT NEWMARKET","length":15,"tagName":"p"},{"type":"text","content":"NewMarket Corporation (NYSE: NEU) is a holding company operating through its subsidiaries, Afton Chemical Corporation (Afton), Ethyl Corporation (Ethyl), and AMPAC. The Afton and Ethyl companies develop, manufacture, blend, and deliver chemical additives that enhance the performance of petroleum products. AMPAC is a manufacturer of specialty materials primarily used in solid rocket motors for the aerospace and defense industries. The NewMarket family of companies has a long-term commitment to its people, to safety, to providing innovative solutions for its customers, and to making the world a better place.","length":613,"tagName":"p"},{"type":"text","content":"Some of the information contained in this press release constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although NewMarket’s management believes its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and o...