Afton Chemical Corp., a subsidiary of Richmond-based NewMarket Corp., said Wednesday it has made a new investment in a petroleum-additive plant in Brazil.
Financial terms of the deal were not disclosed.
The plant at Bayer Industrial Park, in Belford Roxo, Rio de Janeiro, will be operated by Afton Chemical Indústria de Aditivos Ltda — a Brazil-based subsidiary of Afton, which makes chemical additives for petroleum products.
It will provide additional infrastructure required to support the company’s long-term growth plans in Brazil and the Latin America region.
