NewMarket completed the acquisition of AMPAC for $700m.

NewMarket, a publicly traded, company that primarily serves the petroleum additives industry, completed the acquisition of AMPAC, a North American manufacturer of critical performance additives used in solid rocket motors for space launch and military defense applications, for $700m. “We are very excited about closing the acquisition of AMPAC and would like to welcome the entire AMPAC team into the NewMarket family. AMPAC’s existing management team is highly qualified, and this was an important factor in our decision to acquire the business. We look forward to working with them and growing together. While we remain committed to our core petroleum additives business, we are also committed to identifying terrific opportunities outside of the petroleum additives business that meet our M&A and diversification criteria. We think the acquisition of AMPAC is a great example of that approach,” Thomas E. Gottwald, NewMarket Chairman and CEO.