MIRA INFORM REPORT

 

 

Report Date :

21.03.2014

 

IDENTIFICATION DETAILS

 

Name :

INNOSPEC LTD.

 

 

Registered Office :

Innospec Manufacturing Park, Oil Sites Road, Ellesmere Port, CH65 4EY

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

16.09.1938

 

 

Com. Reg. No.:

00344359

 

 

Legal Form :

Private Subsidiary

 

 

Line of Business :

·         Manufacture and sale of specialty chemicals.

·         Manufacture and sale of petroleum additives including cetane number improvers and anti-knock compounds, and speciality performance chemicals

 

 

No. of Employees :

419

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

No complaints

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – September 30, 2013

 

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

United Kingdom

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 


 

UNITED KINGDOM - ECONOMIC OVERVIEW

 

The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France. Over the past two decades, the government has greatly reduced public ownership. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, are key drivers of British GDP growth. Manufacturing, meanwhile, has declined in importance but still accounts for about 10% of economic output. After emerging from recession in 1992, Britain's economy enjoyed the longest period of expansion on record during which time growth outpaced most of Western Europe. In 2008, however, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Falling home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets; these included nationalizing parts of the banking system, temporarily cutting taxes, suspending public sector borrowing rules, and moving forward public spending on capital projects. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated a five-year austerity program, which aimed to lower London's budget deficit from about 11% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 largely due to the euro-zone debt crisis. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 21% by 2014. The Bank of England (BoE) implemented an asset purchase program of £375 billion (approximately $605 billion) as of December 2013. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU). In 2012, weak consumer spending and subdued business investment weighed on the economy, however, in 2013 GDP grew 1.4%, accelerating unexpectedly in the second half of the year because of greater consumer spending and a recovering housing market. The budget deficit is falling but remains high at nearly 7% and public debt has continued to increase.

 

Source : CIA

 

 

 

 


Company name and address

 

INNOSPEC LTD.

                                                                                                                                                          

 

Innospec Manufacturing Park

Oil Sites Road

 

Ellesmere Port, CH65 4EY

United Kingdom

(Trading Address)
Registered Address

 

 

Tel:

01513553611

Fax:

01513562349

 

www.innospecinc.com

 

Employees:

419

Company Type:

Private Subsidiary

Corporate Family:

37 Companies

Ultimate Parent:

Innospec Inc.

 

 

Quoted Status:

Non-quoted Company

Incorporation Date:

16-Sep-1938

Auditor:

KPMG Audit PLC

Financials in:

 

 

 

Fiscal Year End:

31-Dec-2012

Reporting Currency:

British Pound Sterling

Annual Sales:

409.2  1

Net Income:

3.2

Total Assets:

500.9

                                         

 

Business Description

 

 

Innospec Ltd., is a subsidiary of Innospec Inc. an international specialty chemicals company with approximately 850 employees in 20 countries. Innospec manufactures and supplies a wide range of specialty chemicals to markets in the Americas, Europe, the Middle East, Africa and Asia-Pacific. Innospec's Fuel Specialties business specializes in manufacturing and supplying the fuel additives that help improve fuel efficiency, boost engine performance and reduce harmful emissions. Innospec's Active Chemicals business provides effective technology-based solutions for our customers' processes or products focused in the Personal Care; Household, Industrial & Institutional; and Fragrance Ingredients markets. Innospec's Octane Additives business is the world's only producer of tetra ethyl lead.

 

 

Industry

      

 

Industry

Basic Chemical Manufacturing

ANZSIC 2006:

1813 - Basic Inorganic Chemical Manufacturing

ISIC Rev 4:

2011 - Manufacture of basic chemicals

NACE Rev 2:

2013 - Manufacture of other inorganic basic chemicals

NAICS 2012:

325180 - Other Basic Inorganic Chemical Manufacturing

UK SIC 2007:

2013 - Manufacture of other inorganic basic chemicals

US SIC 1987:

2819 - Industrial Inorganic Chemicals, Not Elsewhere Classified

                      


Key Executives   

 

Name

Title

Patrick Williams

Chief Executive Officer

Ian McRobbie

Senior Vice President

Samantha Brown

Marketing Manager

Brian Robert Watt

Director, Secretary

David Lloyd

Purchasing Director

 

 

Financial Summary

 

FYE: 31-Dec-2012

USD (mil)

Key Figures

 

Current Assets

480.15

Fixed Assets

20.76

Total Liabilities

87.43

Net Worth

355.15

 

Key Ratios

 

Current Ratio

5.49

Acid Test

4.85

 

 

Registered No.(UK): 00344359

 

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6311738

2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6190609

 

 

Corporate Overview

 

Location
Innospec Manufacturing Park
Oil Sites Road
Ellesmere Port, CH65 4EY
Merseyside County
United Kingdom

 

Tel:

01513553611

Fax:

01513562349

 

www.innospecinc.com

Sales GBP(mil):

258.3

Assets GBP(mil):

310.1

Employees:

419

Fiscal Year End:

31-Dec-2012

 

 

 

Industry:

Chemical Manufacturing

Registered Address:
Innospec Manufacturing Park
Oil Sites Road
Ellesmere Port, CH65 4EY
United Kingdom

 

Incorporation Date:

16-Sep-1938

Company Type:

Private Subsidiary

Quoted Status:

Not Quoted

Previous Name:

The Associated Octel Company Ltd

Registered No.(UK):

00344359

 

Chief Executive Officer:

Patrick Williams

 

 

Industry Codes

 

ANZSIC 2006 Codes:

1813

-

Basic Inorganic Chemical Manufacturing

 

ISIC Rev 4 Codes:

2011

-

Manufacture of basic chemicals

 

NACE Rev 2 Codes:

2013

-

Manufacture of other inorganic basic chemicals

 

NAICS 2012 Codes:

325180

-

Other Basic Inorganic Chemical Manufacturing

 

US SIC 1987:

2819

-

Industrial Inorganic Chemicals, Not Elsewhere Classified

 

UK SIC 2007:

2013

-

Manufacture of other inorganic basic chemicals

 

 

Business Description

 

Innospec Ltd., is a subsidiary of Innospec Inc. an international specialty chemicals company with approximately 850 employees in 20 countries. Innospec manufactures and supplies a wide range of specialty chemicals to markets in the Americas, Europe, the Middle East, Africa and Asia-Pacific. Innospec's Fuel Specialties business specializes in manufacturing and supplying the fuel additives that help improve fuel efficiency, boost engine performance and reduce harmful emissions. Innospec's Active Chemicals business provides effective technology-based solutions for our customers' processes or products focused in the Personal Care; Household, Industrial & Institutional; and Fragrance Ingredients markets. Innospec's Octane Additives business is the world's only producer of tetra ethyl lead.

 

More Business Descriptions

Manufacture and sale of specialty chemicals.

Manufacture and sale of petroleum additives including cetane number improvers and anti-knock compounds, and speciality performance chemicals

Manufacture and sale of specialty chemicals.

When we use the terms the Corporation Company Registrant we us and our we are referring to Innospec Inc. and its consolidated subsidiaries (Innospec) unless otherwise indicated or the context otherwise requires. General Innospec develops manufactures blends and markets fuel additives personal care and fragrance products and other specialty chemicals. Our products are sold primarily to oil refineries personal care and fragrance companies and other chemical and industrial companies throughout the world. Our fuel additives help improve fuel efficiency boost engine performance and reduce harmful emissions. Our specialty chemicals provide effective technology-based solutions for our customers processes or products focused in the Personal Care; Household Industrial & Institutional; and Fragrance Ingredients markets.

Innospec is a global business with manufacturing sites and sales operations all over the world. Our mission is to create a focused and profitable specialty chemicals business that is growing organically and through strategic acquisition. We want to be recognised in our chosen markets as the leading provider of innovative specialty chemical solutions, delivering value to our customers and shareholders. Underpinning our business and driving Innospec forward are our people and the values we share together. We are dedicated to the principle of sustainable development and we are focused on the needs of our customers. We invest in our people and encourage them to champion innovation. We believe in the highest standards of corporate governance and the importance of integrity across business dealings. Our directors and employees subscribe to a Code of Ethics, which provides a framework for conducting business at all levels within our organisation. Patrick Williams, President & CEO, further endorsed Innospecs commitment to compliance through a recent internal communication - Commitment to Compliance. These values unite us all in a common goal and create the foundation upon which our success depends.

 

 

Brand/Trade Names

 

Octel

 

 

Financial Data

 

Financials in:

GBP(mil)

 

Revenue:

258.3

Net Income:

2.0

Assets:

310.1

Current Assets:

297.2

 

Fixed Assets:

12.9

 

Long Term Debt:

0.1

 

Total Liabilities:

54.3

 

Issued Capital:

317.7

 

Working Capital:

243.1

 

Net Worth:

219.9

 

 

 

Date of Financial Data:

31-Dec-2012

 

1 Year Growth

0.8%

NA

NA

Key Corporate Relationships

 

Auditor:

KPMG Audit PLC

Bank:

Barclays Bank PLC

 

Auditor:

PricewaterhouseCoopers, KPMG Audit PLC, KPMG Audit PLC

 

Auditor History

KPMG Audit PLC

31-Dec-2012

KPMG Audit PLC

31-Dec-2011

PricewaterhouseCoopers LLP

31-Dec-2010

PricewaterhouseCoopers LLP

31-Dec-2009

PricewaterhouseCoopers LLP

31-Dec-2008

 

 

 

GBP(mil)

Audit Fees:

0.3

Audit Fiscal Year:

12-31-2012

 

 

Corporate Family

 

Total Corporate Family Members: 37

                                                                   

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

Innospec Inc.

Parent

Englewood, CO

United States

Miscellaneous Chemical Manufacturing

776.4

900

Innospec Specialty Chemicals

Division

Ellesmere Port

United Kingdom

Miscellaneous Chemical Manufacturing

 

400

Innospec Deutschland GmbH

Subsidiary

Herne, Nordrhein-Westfalen

Germany

Petroleum Product Manufacturing

18.5

60

Innospec Active Chemicals LLC

Subsidiary

High Point, NC

United States

Miscellaneous Chemical Manufacturing

46.5

50

Innospec Active Chemicals LLC

Subsidiary

Salisbury, NC

United States

Miscellaneous Chemical Manufacturing

 

42

Innospec Fuel Specialties LLC

Subsidiary

Littleton, CO

United States

Petroleum Product Manufacturing

35.0

20

Strata Control Services Inc

Subsidiary

Crowley, LA

United States

Insurance Services

 

19

Chemsil Silicones, Inc.

Subsidiary

Chatsworth, CA

United States

Basic Chemical Manufacturing

15.5

16

Innospec Asia Pacific Pte. Ltd.

Subsidiary

Singapore

Singapore

Petroleum Product Manufacturing

 

15

Chemtec Chemical Co

Subsidiary

Chatsworth, CA

United States

Miscellaneous Chemical Manufacturing

10.1

13

Bachman Services Inc.

Subsidiary

Oklahoma City, OK

United States

Miscellaneous Chemical Manufacturing

19.5

12

Innospec Fuel Specialties LLC

Subsidiary

Newark, DE

United States

Miscellaneous Chemical Manufacturing

15.2

9

Innospec Hellas Ltd.

Subsidiary

Piraeus

Greece

Petroleum Product Manufacturing

 

5

Innospec International Ltd.

Subsidiary

Ellesmere Port

United Kingdom

Miscellaneous Professional Services

 

 

Innospec Developments Ltd.

Subsidiary

Ellesmere Port

United Kingdom

Miscellaneous Professional Services

 

 

Innospec Holdings Ltd.

Subsidiary

Ellesmere Port

United Kingdom

Miscellaneous Professional Services

 

 

Innospec Fuel Specialties Ltd.

Subsidiary

Ellesmere Port

United Kingdom

Miscellaneous Professional Services

 

 

Innospec Trading Ltd.

Subsidiary

Ellesmere Port

United Kingdom

Miscellaneous Professional Services

 

 

Innospec Ltd.

Subsidiary

Ellesmere Port

United Kingdom

Basic Chemical Manufacturing

409.2

419

Innospec Inc

UK Branch/Trading address

Ellesmere Port

United Kingdom

Miscellaneous Chemical Manufacturing

409.2

300

Innospec Leuna GmbH

Subsidiary

Leuna, Sachsen-Anhalt

Germany

Miscellaneous Chemical Manufacturing

61.3

95

Innospec Widnes Ltd.

Subsidiary

Widnes

United Kingdom

Agricultural Chemical Manufacturing

62.2

67

Innospec Ltd.

Subsidiary

Lainate, Milano

Italy

Chemical Wholesale

3.4

13

Innospec Limited Branch Office Singapore

Subsidiary

Singapore

Singapore

Petroleum Wholesale

0.3

13

Innospec Ltd.

UK Branch/Trading address

South Wirral

United Kingdom

Basic Chemical Manufacturing

409.2

 

Innospec Environmental Ltd.

Subsidiary

Ellesmere Port

United Kingdom

Miscellaneous Personal Services

2.8

 

Finetex

Subsidiary

Elmwood Park, NJ

United States

Basic Chemical Manufacturing

 

 

Innospec (Plant) Ltd.

Subsidiary

Ellesmere Port

United Kingdom

Miscellaneous Professional Services

 

 

Octel Innovations Ltd.

Subsidiary

Ellesmere Port

United Kingdom

Research and Development Services

 

 

Innospec Active Chemicals Ltd.

Subsidiary

Ellesmere Port

United Kingdom

Miscellaneous Professional Services

 

 

Innospec Finance Ltd.

Subsidiary

Ellesmere Port

United Kingdom

Miscellaneous Professional Services

 

 

Oboadler Co. Ltd.

Subsidiary

Ellesmere Port

United Kingdom

Miscellaneous Professional Services

 

 

Innospec Alchemy

Subsidiary

Ellesmere Port

United Kingdom

Miscellaneous Professional Services

 

 

Innospec Sweden AB

Subsidiary

Karlstad, Varmland

Sweden

Miscellaneous Chemical Manufacturing

 

 

Bycosin De México, S.A. De C.V.

Subsidiary

Morelia, Michoacan

Mexico

Motor Vehicle Wholesale

 

25

Alcor Chemie Vertriebs GmbH

Subsidiary

Zug

Switzerland

Basic Chemical Manufacturing

 

 

NOVOKTAN GmbH

Subsidiary

Premnitz, Brandenburg

Germany

Research and Development Services

 

1

 

 

 

Executives Report

 

Board of Directors

 

Name

Title

Function

 

Milton C Blackmore

 

Chairman

Chairman

 

Biography:

Milton Bud Blackmore was most recently the Senior Vice President Marketing and Product Supply for Sinclair Oil Corporation one of the largest oil companies in the U.S. and served on their Board of Directors until his retirement in 2009 having previously held a number of senior marketing roles with the Company. He was also Chairman of Sinclair Marketing Inc. the companys convenience store business. Before joining Sinclair in 1995 Bud was with Kerr-McGee Refining Corporation for 26 years progressing through a variety of accounting marketing and general management positions ultimately serving as General Manager Branded Marketing for three years. Bud has a Bachelor of Science degree in Business Administration from Panhandle State University in Oklahoma Bud is a member of the Boards Compensation Committee.

Hugh Aldous

 

Non Executive Director

Director/Board Member

 

 

Biography:

Hugh Aldous was appointed to the Board in 2003. He is a partner in RSM Robson Rhodes LLP and was its Managing Partner. He is Chairman of the Eastern European Trust plc a director of Innospec Inc (NYSE) and a director of Elderstreet Millennium VCT. He was a member of the Competition Commission and he was a DTI Inspector with various appointments from 1987 to 2003.

Robert E Bew

 

Board Member

Director/Board Member

 

 

Biography:

Dr. Bew serves as Non-Employee Chairman of the Corporation. From 1997 until January 1 2001 he was Chairman of the European Process Industries Competitiveness Centre an organization specializing in increasing competitiveness in process industries and from 1997 until 2002 he was Chairman of the Teesside Chemical Initiatives (TCI). He spent over thirty five years with ICI most recently as Chief Executive Officer of ICIs International Chemical & Polymer division based in Teesside U.K. from 1994 to 1997. Previously (from 1985 to 1992) he served as head of ICI Corporate Planning and between 1995 and 1997 he was also Chairman of Phillips Imperial Petroleum Limited a refinery joint venture between ICI and Phillips Petroleum. Dr. Bew is now retired.

Philip John Boon

 

Director

Director/Board Member

 

 

Biography:

Phil Boon serves as Executive Vice President Business Operations. Prior to this Phil was the Regional Director Europe Middle East and Africa (EMEA) initially for Fuel Specialties and latterly for Active Chemicals and Octane Additives. In his new position Phil will continue this responsibility as well as having a key role in the strategic development of Innospec. Phil joined the company in 1997 and has held various senior management positions covering most operational aspects of the business. He has over 25 years international experience in the specialty chemicals industry and previously held positions with Ciba-Geigy and FMC in the USA and Europe. Phil has a PhD in Chemistry from Leicester University. Phil Boon was appointed Executive Vice President Business Operations in June 2009.

Age: 54

Education:

Leicester University, PhD (Chemistry)

Mark A Bracewell

 

Director

Director/Board Member

 

 

Ian Cleminson

 

Director

Director/Board Member

 

 

Biography:

Ian Cleminson serves as Executive Vice President and Chief Financial Officer. Prior to this he spent four years as Financial Controller of the Performance Chemicals and Fuel Specialties divisions. Before joining the company in 2002 Ian held a number of senior financial management and accounting positions. He spent three years as Financial Controller of the Superabsorbents division of BASF plc and worked as a senior manager in the corporate tax department of KPMG. He has a Master of Social Science degree from Birmingham University.

Age: 48

Education:

Birmingham University, Master of Social Science
Lancaster University, Bachelor's

Philip Andrew Curran

 

Director

Director/Board Member

 

 

Age: 43

Graeme Kay

 

Director

Director/Board Member

 

 

Age: 38

Duncan Lawson

 

Director

Director/Board Member

 

 

Age: 58

Lawrence Padfield

 

Non - Executive Director;Member of The Board

Director/Board Member

 

 

Biography:

Lawrence ""Larry"" Padfield is currently the Vice President of US Development Group LLC, a privately held terminal development and management company. He also serves on the Board of CAP Technologies, a US company that develops technologies for cleaning and coating steel wire and plates, and Cambridge Legacy Group, a financial advisory company. Prior to joining US Development Group in 2003, Larry was with Shell Oil Company for 18 years, where he held a number of roles, including ones in marketing, engineering and product supply, ultimately serving as the Business Development and Acquisitions Manager for their terminal and pipeline business. Larry has a degree in Civil Engineering from the University of Missouri. Larry is a member of the Board's Compensation Committee.

Robert I Paller

 

Non Executive Director

Director/Board Member

 

 

Biography:

Mr. Paller has served on the board of numerous private companies and non-profit corporations for over forty years. He is currently a member of the Council of National Trustees for the National Jewish Medical and Research Center in Denver Colorado. An attorney by profession Mr. Paller has been a partner with Smith Gambrell & Russell LLP since 1965 specializing in corporate law particularly mergers and acquisitions.

James Puckridge

 

Non Executive Director

Director/Board Member

 

 

Biography:

James Puckridge was Chairman of Elf Atochem UK Limited (now Atofina UK Ltd.) from 1990 until his retirement in December 1998. Prior to that he was Managing Director of the same organisation. James is a Non-Executive Director of Thomas Swan and Co. Limited a UK based specialty chemical corporation and venture capitalist. He has been Chairman of the Trustees of The Associated Octel Company Limited Pension Plan since October 2000. James is a member of both the Compensation Committee and of the Nominating and Corporate Governance Committee.

Brian Robert Watt

 

Director, Secretary

Director/Board Member

 

 

Biography:

Brian Watt serves as Vice President Strategic Planning and Regulatory Affairs. In addition to driving strategy plans and growth initiatives Brian manages Innospecs product regulatory compliance and risk management processes. This includes responsibility for safety health and environmental performance. Brian joined Innospec as M&A Manager in 2001 and has gone on to hold a number of senior commercial and business roles in both Fuel Specialties and Active Chemicals. Prior to this Brian gained significant international experience in the chemicals industry with Shell ICI Avecia and Zeneca in Europe and Asia Pacific.

Age: 55

David Earl Williams

 

Director

Director/Board Member

 

 

Biography:

David Williams was appointed as Vice President General Counsel and Chief Compliance Officer in September 2009. Before joining the company David worked as an attorney with MarkWest Energy Partners L.P. in Denver where he was responsible for various complex legal matters across a number of business areas. He also served as the firms FERC Compliance Officer. David has over 25 years experience as an attorney covering a broad range of legal issues. He has a law degree from the University of Louisville and an undergraduate degree in Management from Park University.

Age: 61

Education:

Park University, undergraduate (Management)

University of Louisville, JD

 

Executives

 

Name

Title

Function

 

Patrick Williams

 

Chief Executive Officer

Chief Executive Officer

 

Biography:

Patrick Williams was appointed as President and Chief Executive Officer in April 2009. He had previously been Executive Vice President and President Fuel Specialties with the Corporation since 2005. In addition to this role he also assumed responsibility for the Active Chemicals business in 2008. Prior to 2005 he was Chief Executive Officer for the Corporations Fuel Specialties business in the Americas having held a number of senior management and sales leadership roles in that business since 1993.

Ian McRobbie

 

Senior Vice President

Senior Management (General)

 

 

Biography:

Ian McRobbie joined the company in January 2002 and was appointed Senior Vice President Research and Technology shortly afterwards. Prior to this Ian had spent thirteen years as Technical Director of A H Marks and Company Ltd. a privately owned British chemical company operating in the agrochemical and specialty chemical markets. Ian has also held senior research and manufacturing roles for Seal Sands Chemical Co. a wholly owned subsidiary of the Hexcel Corporation in California and BTP plc now part of Clariant.

Robert E Bew

 

Board Member

Administration Executive

 

 

Biography:

Dr. Bew serves as Non-Employee Chairman of the Corporation. From 1997 until January 1 2001 he was Chairman of the European Process Industries Competitiveness Centre an organization specializing in increasing competitiveness in process industries and from 1997 until 2002 he was Chairman of the Teesside Chemical Initiatives (TCI). He spent over thirty five years with ICI most recently as Chief Executive Officer of ICIs International Chemical & Polymer division based in Teesside U.K. from 1994 to 1997. Previously (from 1985 to 1992) he served as head of ICI Corporate Planning and between 1995 and 1997 he was also Chairman of Phillips Imperial Petroleum Limited a refinery joint venture between ICI and Phillips Petroleum. Dr. Bew is now retired.

Dawn Smith

 

Human Resources Administrator

Administration Executive

 

 

Brian Robert Watt

 

Director, Secretary

Company Secretary

 

 

Biography:

Brian Watt serves as Vice President Strategic Planning and Regulatory Affairs. In addition to driving strategy plans and growth initiatives Brian manages Innospecs product regulatory compliance and risk management processes. This includes responsibility for safety health and environmental performance. Brian joined Innospec as M&A Manager in 2001 and has gone on to hold a number of senior commercial and business roles in both Fuel Specialties and Active Chemicals. Prior to this Brian gained significant international experience in the chemicals industry with Shell ICI Avecia and Zeneca in Europe and Asia Pacific.

Age: 55

Cathy Hessner

 

Senior Vice President Human Resources

Human Resources Executive

 

 

Biography:

Cathy Hessner joined the company in March 2003 and rose quickly to the position of Senior Vice President Human Resources. Prior to this Cathy was the European Human Resources Director for US commodity chemicals company Nova Chemicals and from 1995 to 1999 European Human Resources Director for U.S. brewing corporation Anheuser-Busch. Before joining Anheuser-Busch she spent nine years with various divisions of Mars Incorporated carrying out a range of Human Resources and general business roles. Cathy has a PhD in Econometrics.

 

Samantha Brown

 

Marketing Manager

Marketing Executive

 

 

Helen Pizzie

 

Head of IT

Engineering/Technical Executive

 

 

David Lloyd

 

Purchasing Director

Purchasing Executive

 

 

Martin M Hale

 

Chair Of Committee

Other

 

 

Biography:

Martin M. Hale 67 is a former director of Great Lakes Chemical Corporation having served from 1978 to 2005 and in the capacity of Chairman of the Board from 1995 to 2000. From 1983 to 2001 Mr. Hale was executive vice president and partner of Hellman Jordan Management Company Inc. a registered investment advisor. Mr. Hale has been a director of the Company since 2005. He also serves as a director of Innospec Inc. (formerly known as Octel Corp.) and is an honorary trustee of the Museum of Fine Arts in Boston Massachusetts.

Russ Hibberd

 

Estates Co-Ordinator

Other

 

 

Joachim Roeser

 

Chair Of Committee

Other

 

 

Biography:

Mr. Roeser has since November 1 2006 been Chief Executive Officer of the Amber Chemical Group a global specialty silicone producer owned by Caledonia Investments and he became Non-Executive Chairman of Fluidata Ltd a business internet service provider company on January 1 2007. Since January 1 2011 he is a Senior Adviser of Trumont International a mergers and acquisition advisory for the chemicals industry and allied sectors. He is a German national and has lived and worked in Belgium France and Germany as well as in the U.K. Previously he was President and Chief Executive Officer of Luzenac a Rio Tinto subsidiary and the worlds leading talc mining producer for five years from May 2001 to April 2006. Prior to that Mr. Roeser was European President of Ferro Corporation from April 1998 to December 2000. He started his career thirty years ago in the emulsifier and starch industry before joining Arco Chemical in 1983 where he held a number of senior management positions and ultimately served as Global Business Director Styrene for two years. Mr. Roeser earned his Bachelor of Science degree in Chemical Engineering from the University of Wuppertal.

 

 

 

Directors and Shareholders Report

 

Main Office Address:
Innospec Manufacturing Park
Oil Sites Road
Ellesmere Port
United Kingdom CH65 4EY

Tel: 01513553611
Fax: 01513562349
URL: http://www.innospecinc.com

Annual Return Date: 30 Jun 2013
Total Issued Capital (GBP 000): 317,685

 

Individual Directors

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Philip John
Boon

Current

23 Jul 1959

Innospec Manufacturing Park, Oil Sites Road,
Ellesmere Port, Merseyside CH65 4EY

29 Mar 2010

NA

Current:3
Previous:0
Disqualifications:0

 

David Earl
Williams

Current

11 Jan 1953

Innospec Manufacturing Park, Oil Sites Road,
Ellesmere Port, Merseyside CH65 4EY

14 Feb 2011

NA

Current:1
Previous:0
Disqualifications:0

 

Duncan
Lawson

Current

22 Feb 1956

Innospec Manufacturing Park, Oil Sites Road,
Ellesmere Port, Merseyside CH65 4EY

29 Mar 2010

NA

Current:2
Previous:0
Disqualifications:0

 

Philip Andrew
Curran

Current

12 Dec 1970

Innospec Manufacturing Park, Oil Sites Road,
Ellesmere Port, Merseyside CH65 4EY

29 Mar 2010

NA

Current:13
Previous:0
Disqualifications:0

 

Graeme
Kay

Current

10 Jan 1976

Innospec Manufacturing Park, Oil Sites Road,
Ellesmere Port, Merseyside CH65 4EY

01 Feb 2014

NA

Current:3
Previous:0
Disqualifications:0

 

Brian Robert
Watt

Current

10 Jan 1959

Innospec Manufacturing Park, Oil Sites Road,
Ellesmere Port, Merseyside CH65 4EY

18 Jan 2012

NA

Current:15
Previous:0
Disqualifications:0

 

Ian
Cleminson

Current

01 Nov 1965

1 Scholars Green Lane,
Lymm, Cheshire WA13 0QA

24 Jun 2006

NA

Current:15
Previous:0
Disqualifications:0

 

Gordon
Tsuchiya

Previous

30 Jul 1947

17638 Vineyard Road, Castro Valley,
California

01 Sep 1994

20 Nov 1997

Current:0
Previous:1
Disqualifications:0

 

Lowell Donald
Simpson

Previous

27 Dec 1935

233 Stacey Hollow Lane, Lafayette,
Indiana

01 May 1995

31 Mar 1998

Current:0
Previous:3
Disqualifications:0

 

Andrew
Hartley

Previous

10 Nov 1956

The Hayloft, Bears Head Farm Newcastle Road,
Smallwood, Cheshire CW11 2GB

15 Apr 2005

31 Dec 2011

Current:1
Previous:32
Disqualifications:0

 

Howard Ray
Brown (Alternate To Mr Jr Dixon)

Previous

16 Nov 1937

6001 Bollinger Canyon Road Building, Po Box 5047,
Sanramon, California Ca94583-0

01 Aug 1993

31 Oct 1992

Current:0
Previous:1
Disqualifications:0

 

Dennis Graham John
Kerrison

Previous

14 Aug 1944

The Coach House No 2 Hilston House, Green Walk Bowdon,
Altrincham, Cheshire WA14 2SN

13 May 1996

15 Apr 2005

Current:0
Previous:24
Disqualifications:0

 

Robert Travis
Jeffares

Previous

27 Aug 1935

531 Pawnee Circle, West Lafayette,
Indiana

13 Jun 1994

31 Mar 1998

Current:0
Previous:3
Disqualifications:0

 

Alan Geoffrey
Jarvis

Previous

08 Aug 1949

Cob Hall, Hoofield Lane Huxley,
Chester, Cheshire CH3 9BR

31 Mar 1998

02 Dec 2002

Current:0
Previous:17
Disqualifications:0

 

Gerd Karl
Schue

Previous

07 Mar 1940

Seeweg 12House, Ch 8592 Uttvil,
Switzerland

01 Aug 1991

31 Mar 1998

Current:0
Previous:4
Disqualifications:0

 

Alton Donald
Cornwell

Previous

07 Mar 1937

316 Wimbledon, Walnut Creek,
California

31 Mar 1992

20 Nov 1997

Current:0
Previous:1
Disqualifications:0

 

Michael Holden
Burnside

Previous

04 Aug 1952

3698 Mckechnie Avenue, West Vancouver,
British Columbia, V7V 2M6

01 Jan 1993

01 Sep 1994

Current:0
Previous:1
Disqualifications:0

 

Kathryn Fay
Davison

Previous

02 Aug 1976

Innospec Manufacturing Park, Oil Sites Road,
Ellesmere Port, Merseyside CH65 4EY

29 Mar 2010

14 Sep 2011

Current:0
Previous:2
Disqualifications:0

 

Emerson
Kampen

Previous

12 Mar 1928

168 Creighton Road,
West Lafayette, Indiana 47906

01 Aug 1991

31 Dec 1994

Current:0
Previous:4
Disqualifications:0

 

Robert Bond
Mcdonald

Previous

31 Oct 1936

195 Stacey Hollow, Lafayette,
Indiana

01 Jan 1995

31 Mar 1998

Current:0
Previous:4
Disqualifications:0

 

Mark
Bracewell

Previous

02 Jan 1968

2 Fossards Close, Bramham,
Wetherby, West Yorkshire LS23 6WD

11 May 2009

31 Jan 2014

Current:0
Previous:14
Disqualifications:0

 

John Stanley
Little

Previous

27 Jul 1931

Cliveden House 129 Hough Green,
Chester, Cheshire CH4 8JR

01 Aug 1991

30 Jun 1995

Current:0
Previous:4
Disqualifications:0

 

Evert
Henkes

Previous

04 Dec 1943

Cedar Lodge, Warren Road,
Kingston, Surrey KT2 7HN

01 Aug 1991

16 Mar 1992

Current:0
Previous:9
Disqualifications:0

 

Paul Willis
Jennings

Previous

26 Mar 1957

Flat 3 Park Gate, Bradgate Road,
Altrincham, Cheshire WA14 4QJ

02 Dec 2002

20 Mar 2009

Current:0
Previous:41
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Directors

 

There are no corporate directors for this company.

 

 

Individual Secretaries

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Brian Robert
Watt

Current

NA

Innospec Manufacturing Park, Oil Sites Road,
Ellesmere Port, Merseyside CH65 4EY

01 Jan 2012

NA

Current:1
Previous:0
Disqualifications:0

 

Andrew
Hartley

Previous

10 Nov 1956

The Hayloft, Bears Head Farm Newcastle Road,
Smallwood, Cheshire CW11 2GB

03 Nov 2004

31 Dec 2011

Current:1
Previous:32
Disqualifications:0

 

John Graeme
Davies

Previous

03 May 1960

Airlie, Roberts Lane Chalfont St. Peter,
Gerrards Cross, Buckinghamshire SL9 0QR

06 Apr 2004

03 Nov 2004

Current:2
Previous:47
Disqualifications:0

 

John Phillip
Tayler

Previous

08 Mar 1956

The Castle, 46 North Cross Road,
Huddersfield, West Yorkshire HD2 2NL

24 Dec 1999

06 Apr 2004

Current:0
Previous:59
Disqualifications:0

 

Graham De Mussenden
Leathes

Previous

12 Mar 1949

2 Park Mews Vicarage Lane, Little Budworth,
Tarporley, Cheshire CW6 9BP

31 Oct 1991

23 Dec 1999

Current:0
Previous:8
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Secretaries

 

There are no corporate secretaries for this company.

 

 

Individual Shareholders

 

Name

Share Details
(As Reported)

Share Type

# of Shares

Share Price (GBP)

Share Value (GBP)

% of Total Shares

Innospec Fuel Specialities Limited

10000 Preference GBP 1.00

Preference

10,000

1.00

10,000.00

<0.01

 

 

 

 

 

 

 

 

Corporate Shareholders

 

Company Name

Registration Number

Share Details
(As Reported)

Share Type

# of Shares

Share Price (GBP)

Share Value (GBP)

% of Total Shares

Innospec Trading Limited

03516648

317675336 Ordinary GBP 1.00

Ordinary

317,675,336

1.00

317,675,336.00

100.00

 

 

 

Annual Profit & Loss

 

 

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

 

  Financial Glossary

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.631174

0.623776

0.647573

0.641508

0.545576

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Total Turnover

409.2

411.0

368.3

301.9

326.3

Cost of Sales

330.2

333.4

276.8

210.8

232.6

Gross Profit

79.0

77.6

91.5

91.1

93.8

Depreciation

3.2

3.5

3.6

4.7

8.5

Other Expenses

59.4

61.9

51.2

77.2

46.6

Operating Profit

19.6

15.7

-

-

-

Other Income

3.4

26.4

13.5

4.2

106.6

Interest Paid

18.8

5.3

11.5

52.7

11.3

Exceptional Income

0.0

0.0

0.0

-0.5

0.0

Discontinued Operations

0.0

0.0

0.0

0.0

0.0

Profit Before Taxes

4.2

36.9

42.2

-35.1

142.5

Tax Payable / Credit

1.0

0.8

15.0

9.4

29.6

Extraordinary Items/Debits

0.0

0.0

0.0

0.0

0.0

Dividends

0.0

0.0

0.0

0.0

0.0

Profit After Taxes

3.2

36.1

27.2

-44.5

112.9

Minority Interests (Profit & Loss)

0.0

0.0

0.0

0.0

0.0

Audit Fees

0.5

0.4

0.9

0.7

1.0

Non Audit Fees

-

0.1

-

-

-

Number of Employees

419

400

387

381

383

Wages

40.8

39.1

-

32.7

36.3

Social Security Costs

4.9

4.7

-

4.1

4.4

Pensions

0.0

0.2

0.2

0.0

0.1

Other Pension Costs

8.3

7.4

-

6.5

9.2

Employees Remuneration

54.0

51.2

39.4

43.4

49.9

Directors Emoluments

3.6

2.8

2.8

1.5

2.2

Other Costs

0.2

0.5

0.0

1.2

0.0

Directors Remuneration

3.8

3.5

3.0

2.7

2.3

Highest Paid Director

1.7

1.0

1.0

1.0

-

 

 

Annual Balance Sheet

 

 

 

Financials in: USD (mil)

 

  Financial Glossary

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.619061

0.643459

0.638712

0.619253

0.695531

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Land & Buildings

4.0

3.1

3.8

3.3

4.5

Fixtures & Fittings

0.0

0.0

0.0

2.9

0.0

Plant & Vehicles

9.7

10.6

11.3

10.3

11.0

Total Tangible Fixed Assets

13.8

13.7

15.2

16.5

15.5

Intangible Assets

2.6

3.1

3.6

4.3

3.7

Investments

4.3

4.2

4.2

4.5

11.3

Total Fixed Assets

20.8

20.9

23.0

25.3

30.5

Stocks

55.8

53.6

51.6

54.5

36.8

Work in Progress

0.0

0.0

0.0

0.0

14.8

Total Stocks Work In Progress

55.8

53.6

51.6

54.5

51.6

Trade Debtors

45.0

42.0

36.8

36.1

42.8

Inter-Company Debtors

364.7

357.6

353.0

353.8

334.1

Director Loans

-

-

0.0

-

0.0

Other Debtors

13.4

12.1

6.3

13.3

9.5

Total Debtors

423.1

411.7

396.1

403.1

386.4

Cash and Equivalents

1.3

3.4

1.9

2.7

1.4

Other Current Assets

0.0

0.0

0.0

0.0

0.0

Total Current Assets

480.1

468.6

449.5

460.2

439.3

Total Assets

500.9

489.6

472.5

485.5

469.8

Trade Creditors

25.6

28.1

21.8

28.3

23.3

Bank Overdraft

0.0

0.0

0.0

0.0

0.0

Inter-Company Creditors

19.8

19.8

34.2

47.9

155.0

Director Loans (Current Liability)

0.0

0.0

0.0

0.0

0.0

Hire Purchase (Current Liability)

0.0

0.0

0.0

0.0

0.0

Finance Lease (Current Liability)

0.0

0.0

0.0

0.0

0.0

Total Finance Lease/Hire Purchase (Current Liability)

0.0

0.0

0.0

0.0

0.0

Total Short Term Loans

0.0

0.0

0.0

0.0

0.0

Accruals/Deferred Income (Current Liability)

39.0

38.6

37.0

32.1

18.6

Social Security/VAT

1.3

1.2

1.2

1.0

0.9

Corporation Tax

0.0

0.0

4.2

0.0

20.4

Dividends (Current Liability)

0.0

0.0

0.0

0.0

0.0

Other Current Liabilities

1.8

3.0

5.2

5.9

0.0

Total Current Liabilities

87.4

90.7

103.6

115.3

218.2

Other Long Term Liabilities

0.2

2.0

5.0

7.7

326.5

Total Long Term Liabilities

0.2

2.0

5.0

7.7

326.5

Deferred Taxation

0.0

21.5

-

-

-

Other Provisions

55.5

1.2

25.3

105.0

25.7

Total Provisions

55.5

22.7

25.3

105.0

25.7

Issued Capital

513.2

493.7

497.4

513.0

15.8

Share Premium Accounts

3.7

0.0

0.0

0.0

0.0

Revaluation Reserve

0.0

0.0

0.0

0.0

0.0

Retained Earnings

-160.8

-123.7

-162.7

-260.4

-121.9

Other Reserves

1.7

4.2

4.0

5.0

5.5

Minority Interests (Balance Sheet)

0.0

0.0

0.0

0.0

0.0

Total Shareholders Funds

357.8

374.2

338.6

257.6

-100.6

Net Worth

355.2

371.1

335.0

253.2

-104.3

 

 

Annual Cash Flows

 

 

 

Financials in: USD (mil)

 

  Financial Glossary

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.631174

0.623776

0.647573

0.641508

0.545576

Consolidated

No

No

No

No

No

 

 

 

 

 

 

 

 

 

Annual Ratios

 

 

 

Financials in: USD (mil)

 

 

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.619061

0.643459

0.638712

0.619253

0.695531

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Current Ratio

5.49

5.17

4.34

3.99

2.01

Liquidity Ratio

4.85

4.58

3.84

3.52

1.78

Stock Turnover

7.48

7.43

7.24

5.74

4.97

Credit Period (Days)

39.37

38.50

35.94

42.08

60.97

Working Capital by Sales

94.12%

94.87%

92.66%

110.30%

86.38%

Trade Credit by Debtors

0.57

0.67

0.59

0.79

0.54

Return on Capital

1.02%

8.96%

11.60%

-9.82%

44.42%

Return on Assets

0.85%

7.30%

9.06%

-7.49%

23.79%

Profit Margin

1.02%

8.97%

11.46%

-11.63%

43.67%

Return on Shareholders Funds

1.18%

9.55%

12.64%

-14.12%

-

Borrowing Ratio

5.56%

5.34%

10.20%

18.92%

-148.64%

Equity Gearing

71.43%

76.44%

71.67%

53.05%

-21.41%

Interest Coverage

0.22

6.99

3.68

-0.67

12.67

Sales by Tangible Assets

3,027.00

2,913.00

2,463.00

1,897.00

1,650.00

Average Remuneration per Employee

0.1

0.1

0.1

0.1

0.1

Profit per Employee

0.0

0.1

0.1

-0.1

0.3

Sales per Employee

1.0

1.0

1.0

0.8

0.7

Capital Employed per Employee

1.0

1.0

1.0

1.0

0.7

Tangible Assets per Employee

0.0

0.0

0.0

0.0

0.0

Total Assets per Employee

1.2

1.2

1.2

1.3

1.2

Employee Remuneration by Sales

13.19%

12.46%

10.69%

14.36%

15.30%

Creditor Days (Cost of Sales Based)

27.73

31.73

28.33

47.36

46.57

Creditor Days (Sales Based)

22.38

25.74

21.29

33.07

33.19

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.61.13

UK Pound

1

Rs.101.17

Euro

1

Rs.84.59

 

 

INFORMATION DETAILS

 

Report Prepared by :

NNA

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

New Business

 

--

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.