RICHMOND, Va.--(BUSINESS WIRE)--Afton Chemical Corporation, a global leader in the lubricant and fuel additive market and wholly owned subsidiary of NewMarket Corporation (NYSE:NEU), today announced the entry into a definitive purchase agreement to acquire Aditivos Mexicanos, S.A. de C.V. 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,” said Shama.

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).

About Afton Chemical Corporation

Afton Chemical Corporation is part of the NewMarket Corporation (NYSE: NEU) family of companies. Afton Chemical Corporation uses its formulation, engineering and marketing expertise to help their customers develop and market fuels and lubricants that reduce emissions, improve fuel economy, extend equipment life, improve operator satisfaction and lower the total cost of vehicle and equipment operation. Afton Chemical Corporation develops and sells an extensive line of unique additives for gasoline and distillate fuels, driveline fluids, engine oils and industrial lubricants. Afton Chemical Corporation supports global operations through regional headquarters located in Asia Pacific, EMEAI, Latin America and North America. Afton Chemical Corporation is headquartered in Richmond, Virginia. For more information, visit www.aftonchemical.com.