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Ingevity Corporation (NYSE: NGVT) has expanded its activated carbon production capacity following significant debottlenecking and equipment upgrades completed and verified in late December at its facility in Zhuhai, China. The plant upgrades have effectively increased its capacity by an additional 15% to 20%, helping Ingevity meet the high global demand for its premium, high-capacity pelletized carbon products, used primarily in gasoline vapor emissions control systems in cars, trucks, motorcycles and boats.
The Zhuhai plant has been in operation since 2015 and includes activated carbon production and a state-of-the-art automotive applications laboratory. Ingevity also operates an extrusion facility in Changshu, China; an activated carbon production plant in Wickliffe, Kentucky; an activation and extrusion plant in Covington, Virginia; and a "honeycomb" scrubber plant in Waynesboro, Georgia.
"We continue to see unprecedented demand for our activated carbon products for gasoline vapor emissions control solutions as the global automobile industry works to refill its vehicle inventory pipelines," said Ed Woodcock, executive vice president and president, Performance Materials, at Ingevity. "Over the last five years, we’ve improved the activation process at our Zhuhai facility, identified bottlenecks and, ultimately, implemented a plan to increase capacity of our world-leading automotive materials. We are excited about expanding our capacity to better supply the world’s largest vehicle market."
Ingevity has produced and sold activated carbon for more than a century, including more than 40 years in the automotive market. With more than 900 million units installed globally, Ingevity is the global leader in the automotive evaporative emissions control application.
Ingevity: Purify, Protect and Enhance
Ingevity provides products and technologies that purify, protect, and enhance the world around us. Through a team of talented and experienced people, we develop, manufacture and bring to market solutions that help customers solve complex problems and make the world more sustainable. We operate in two reporting segments: Performance Chemicals, which includes specialty chemicals and engineered polymers; and Performance Materials, which includes high-performance activated carbon. These products are used in a variety of demanding applications, including asphalt paving, oil exploration and production, agrochemicals, adhesives, lubricants, publication inks, coatings, elastomers, bioplastics 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 1,750 people. The company is traded on the New York Stock Exchange (NYSE: NGVT). For more information visit www.ingevity.com.
About Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such statements generally include the words "will," "plans," "intends," "targets," "expects," "outlook," or similar expressions. Forward-looking statements may include, without limitation, production plans, expected financial positions, results of operations and cash flows; financing plans; business strategies and expectations; operating plans; and the impact of COVID-19. Actual results could differ materially from the views expressed. 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, adverse effects from the COVID-19 pandemic; adverse effects of general economic and financial conditions; risks related to international sales and operations; and the other factors detailed from time to time in the reports we file with the SEC, including those described under "Risk Factors" in our Annual Report on Form 10-K and other periodic filings. These forward-looking statements speak only as of the date of this press release. Ingevity assumes no obligation to provide any revisions to, or update, any projections and forward-looking statements contained in this press release.
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