11 unchanged sentences
Our Performance Chemicals segment provides innovative technology-based solutions for our customers’ processes or products in personal care, home care, agrochemical, construction, mining and other industrial markets.
−Removed: This segment has grown through acquisitions, together with the organic development and marketing of innovative products in these end-markets.
+Added: This segment has grown through acquisitions, together with the organic development and marketing of innovative products within these end-markets.
Our customers in this segment include large multinational companies, manufacturers of personal care and home care products and global mining, agriculture and building products and other industrial companies.
−Removed: On December 8, 2023, we acquired QGP Química Geral (“QGP”) which we believe is strengthening our Performance Chemicals segment and has added a manufacturing base in South America to compliment all of our end markets.
Fuel Specialties
3 unchanged sentences
The segment has grown organically through our development of new products to address increased demand for fuel, focus on fuel economy, compatibility of renewable fuels, higher efficiency engine technologies and legislative developments, including tightening global emissions regulations.
−Removed: We are also applying these fuels technologies to an increasing number of non-fuel applications in a variety of industries.
−Removed: Our customers in this segment include national and multinational oil companies, fuel marketers and retailers, fuel terminals, marine lines, coating & plastics producers and other heavy industrial end-users.
+Added: applying these fuels technologies to an increasing number of non-fuel applications in a variety of industries.
+Added: Our customers in this segment include national and multinational oil companies, fuel marketers and retailers, fuel terminals, marine lines, coating and plastics producers and other heavy industrial end-users.
Oilfield Services
9 unchanged sentences
Working Capital
−Removed: The nature of our customers’ businesses generally requires us to hold appropriate amounts of inventory in order to respond quickly to customers’ needs.
+Added: The nature of our customers’ businesses generally requires us to hold appropriate amounts of inventory to respond quickly to customers’ needs.
We therefore require corresponding amounts of working capital for normal operations.
We do not believe that this is materially different to our competitors.
−Removed: The purchase of large amounts of certain raw materials across all of our segments can create some variations in working capital requirements, but these are planned and managed by the business.
+Added: The purchase of large amounts of certain raw materials across all our segments can create some variations in working capital requirements, but these are planned and managed by the business.
We do not believe that our terms of sale or purchase differ markedly from those of our competitors.
3 unchanged sentences
These purchases account for a substantial portion of the Company’s variable manufacturing costs.
−Removed: These materials are, with the exception of ethylene for one of our operations in Germany, available from more than one source.
+Added: These materials are, apart from ethylene for one of our operations in Germany, available from more than one source.
Although ethylene is, in theory, available from several sources, it is not permissible to transport ethylene by road in Germany.
7 unchanged sentences
Intellectual Property
−Removed: Our intellectual property, including trademarks, patents and licenses, forms a significant part of the Company’s competitive advantage for all of our segments.
+Added: Our intellectual property, including trademarks, patents and licenses, forms a significant part of the Company’s competitive advantage for all our segments.
The Company does not, however, consider its business to be dependent on any one trademark, patent or license.
5 unchanged sentences
In addition, we vigorously participate in patent opposition proceedings around the world where necessary to secure a technology base free from infringement of intellectual property.
−Removed: In 2023, the Company had a significant customer in the Oilfield Services segment which accounted for $265.2 million and 13.6% (2022 - $222.2 million and 11.3%) of the group's net sales.
−Removed: In 2024, the net sales to this customer did not exceed 10% of the group's net sales.
+Added: In 2025 and 2024, the net sales to any single customer did not exceed 10% of the group's net sales.
+Added: In 2023, the Company had a significant customer in the Oilfield Services segment which accounted for $265.2 million and 13.6% of the group's net sales.
Certain markets in which the Company operates are subject to significant competition.
21 unchanged sentences
In Oilfield Services, new technologies have been introduced to improve the hydrocarbon yield from customers’ operations and to protect assets, including friction modifiers, biocide formulations and additives to improve drilling muds.
−Removed: Health, Safety and Environmental Matters
+Added: Environmental Matters
We are subject to environmental laws in the countries in which we operate and conduct business.
Management believes that the Company is in material compliance with applicable environmental laws and has made the necessary provisions for the continued costs of compliance with environmental laws.
−Removed: Our principal site giving rise to asset retirement obligations is our Ellesmere Port manufacturing site in the United Kingdom (“U.K.”).
−Removed: There are also asset retirement obligations and environmental remediation liabilities on a much smaller scale in respect of other manufacturing sites.
+Added: Our principal site giving rise to asset retirement obligations is our Ellesmere Port site in the United Kingdom (“U.K.”).
+Added: There are also asset retirement obligations and environmental remediation liabilities on a much smaller scale in respect of other sites.
We regularly review the future expected costs of remediation, and the current estimate is reflected in the Consolidated Balance Sheets and Note 13 of the Notes to the Consolidated Financial Statements.
7 unchanged sentences
Environmental, Social & Governance and Corporate Social Responsibility Reporting
−Removed: As part of our commitment to being open and transparent about our performance, our latest Responsible Business Report, which is our 2023 Report, was independently assured to assess its adherence to the globally recognized AA1000 Assurance Standard.
+Added: As part of our commitment to being open and transparent about our performance, our latest Sustainability Report, which is our 2024 Report, was independently assured to assess its adherence to the globally recognized AA1000 Assurance Standard.
The Responsible Business Report, along with further information on our sustainability program and performance is available online in the “Corporate Social Responsibility” section of the Company’s website at www.innospecsustainability.com .
19 unchanged sentences
Every employee plays an essential part in complying with local and national laws, rules and regulations.
−Removed: We uphold a high standard of corporate and business integrity across all of our activities.
+Added: We uphold a high standard of corporate and business integrity across all our activities.
At Innospec, we encourage our people to aspire to a culture that is:
74 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.