Latest news with #AMPAC
Medscape
15-05-2025
- Health
- Medscape
Group Aims to Elect 100 Doctors By 2030
Amy Acton, MD, MPH, wasn't accustomed to the spotlight. When Acton was appointed to lead the Ohio Department of Health in 2019, her top priorities were infant mortality and youth homelessness. Then came COVID-19. Acton quickly became the state's face of public health. Although many Ohioans hailed her as a hero, armed protesters angry about mandatory lockdowns showed up at her house. Acton resigned as the state health director just over 3 months into the pandemic. But she hasn't turned her back on public life — in January, she announced her candidacy for governor of Ohio in 2026. Acton said she feels called to address the state's declining public health. In Ohio, 'we went from having some of the best health outcomes to some of the worst, in terms of how long we live, our smoking rates, our diabetes rates and infant mortality,' Acton told Medscape Medical News in an interview. 'I can't look away when we're going back.' Acton's frequent media appearances during the pandemic helped hone her public speaking skills — a good preparation for life on the campaign trail. She said she had help from seasoned political advisors who have guided women into governor's offices in other states. She also consulted Sen. Mark Kelly of Arizona, a former NASA astronaut. Learning The Ropes Although running for office can be a daunting transition for doctors who are used to working one-on-one with patients, a handful of groups help doctors learn the ropes. AMPAC, the American Medical Association (AMA)'s political action committee, organizes candidate workshops and campaign schools for doctors. AMPAC also contributes up to $5000 to a candidate's campaign per election, including a primary, general, runoff, or special election. AMPAC can contribute directly to a campaign or make gifts in kind. The group also can pay for ads endorsing a candidate, send direct mail through the AMA's political education fund, and use corporate dollars to educate voters. Although AMPAC is bipartisan, it encourages candidates to uphold key principals of public health. For example, it discourages candidates from accepting money from tobacco companies or groups that oppose evidence-based public health measures to reduce firearm violence. A $25-Million Campaign to Recruit Physician Candidates A political action committee called 314 Action has recruited and supported scientists as political candidates since 2016. Now, the left-leaning group has pledged to spend $25 million to elect 100 progressive doctors to state and national offices by 2030. The $25 million includes both direct contributions to candidates early in their campaigns, as well as providing advice and training. 'There's so much behind the scenes that goes into guiding these candidates through the decision to run, helping them have a strong and impactful launch, and then advising and training them throughout their campaign,' said Grace Silva, 314 Action's spokeswoman. 'We've got an incredible team of experienced campaign managers and finance directors who work closely in these campaigns.' For example, 314 Action commissioned a poll about voter interest in electing a doctor and whether they would support Action or the Republican candidate Vivek Ramaswamy. The survey found that voters gave both candidates roughly equal support. 'It's really hard to break into politics when you don't come from that traditional political background,' said Shaughnessy Naughton, a chemist who ran for Congress as a Democrat in Bucks County, Pennsylvania, in 2014. Shaughnessy lost the race but founded 314 Action and now serves as its president. While most first-time candidates can't afford to hire a full-time campaign manager, Naughton said, 'we have very senior–level staffers that act in that capacity to help launch these campaigns until they're able to bring on paid staff.' Doctors' voices are urgently needed today to defend public health, Naughton said. The workforce of the US Department of Health and Human Services has been cut by 25% as part of President Trump's restructuring of the federal government. Acton also cited cuts to health programs such as Meals on Wheels, which combat hunger and isolation among older adults, as motivating her to run for governor. 'As physicians, we have to get out there and use our voices,' Acton said. The White House did not respond to Medscape Medical News ' request for comment. Natural Strengths as Candidates Doctors have a number of advantages as political candidates. Although some studies showed that trust in doctors declined during the pandemic, other studies showed that most Americans view physicians positively. In surveys, people report much more trust in doctors and nurses — the most trusted of all professionals — than politicians. Although running for office is challenging, Acton said, 'it's strange how well suited you are with the skill sets we have. Physicians are natural problem solvers.' Arvind Venkat, MD, who served as president of his state's emergency physicians organization, also became a public figure during the pandemic, when he appeared on local TV three times a week to answer questions about how to stay safe. 'We go into the field because we want to help people,' said Venkat, who was elected to represent Allegheny County in the Pennsylvania state legislature in 2023. Trust in Medicine – And Politics 'Politics is also about building a trusting relationship with people, but on a widespread basis,' Venkat said. 'I actually think that having a career in medicine — and being able to empathize with people — provides critical skills for anyone who's thinking about running for office.' Venkat said he's drawn on his healthcare experience when working on healthcare issues, such as protecting consumers from medical debt. But Venkat said he's also learned about subjects as diverse as energy, the environment, and public infrastructure. 'When you're a physician, you're a lifelong learner,' Venkat said. 'You're used to assimilating new sources of information. And as a physician, you understand the importance of unintended consequences. We're always taught to do no harm.' Obstacles to Running For Office As an emergency physician, Venkat said he has experience working in 'high-pressure environments,' which helps him keep his cool when making high-stakes decisions. But the political process can move at a frustratingly slow pace for doctors used to working quickly and independently, said Hawaii Gov. Josh Green, a family doctor and emergency physician, who co-chairs the Guardians of Health campaign. 'The biggest hurdle for me was being patient enough with the political process to get change done,' Green said. 'I was used to seeing a patient, prescribing a treatment and getting a result. In the emergency room, we're very driven to take action quickly. That's not how government works.' Green said he's legally barred from working as a doctor while serving as a governor. But Shaughnessy noted that many elected positions are part-time, especially in local government, allowing doctors to represent voters while continuing to see patients. Venkat, a full-time legislator, said he continues to work a couple emergency department shifts a month. 'I do my shifts on nights and weekends and holidays when the political world is not working,' he said. One of the biggest hurdles that Venkat had to overcome, he said, was fundraising. Venkat said he and his wife, who is also a physician, 'haven't had to ask anyone for money in our adult lives. But as a candidate, I have to overcome that queasiness. There's certainly been a learning curve associated with that.' A Critical Time for Science and Medicine Research shows that physicians are less likely to attend public meetings or even vote. But doctors are more likely than others to discuss politics with friends or family, donate to political organizations, and buy products or boycott companies based on political values. While research shows that doctors are more likely to vote for Democrats than for Republicans, the GOP has an edge among physicians in Congress. Of the 21 physicians serving in Congress — four senators and 17 representatives — 15 are Republican. All of the physician senators — Roger Marshall (Kansas), Bill Cassidy (Louisiana), Rand Paul (Kentucky), and John Barrasso (Wyoming) — are Republican. In the House of Representatives, six doctors are Democrats and 11 are Republicans. Regardless of party, 'we desperately need more physicians in politics,' Venkat said. 'Decisions are being made that directly affect our ability to care for patients in our communities.' As an elected official, 'you are able to help so many more people than you might be able to on an individual basis,' Venkat said. 'I've never liked it when people say that physicians should stay in their lane and just take care of patients. There's a long history of physicians advocating for their patients and their communities outside of the four walls of the clinic or the hospital or the emergency department.'
Business Wire
24-04-2025
- Business
- Business Wire
NewMarket Corporation Announces Approval of AMPAC Expansion
RICHMOND, Va.--(BUSINESS WIRE)--The Board of Directors of NewMarket Corporation announced its approval of the capital investment by its subsidiary American Pacific Corporation (AMPAC) of up to $100 million to expand AMPAC's ammonium perchlorate production capabilities in support of growing solid rocket motor demand. This investment will allow AMPAC to construct an additional production line, increasing capacity by more than 50%. The increased capacity will allow AMPAC to meet the domestic demand of US military and space launch programs, while also addressing the needs of US allies in these critical areas. The project is currently scheduled to be completed during 2026. Thomas E. Gottwald, NewMarket's Chairman and CEO, said: 'We are excited about the opportunity to continue to invest in AMPAC. We view AMPAC as a strategic, national asset with a mission-critical role in global safety, security, and space programs. This investment assures capacity to meet our customers' growing needs while adding additional redundancy and security of supply into our production system. It also demonstrates our long-term commitment to the success of AMPAC and its stakeholders.' ABOUT NEWMARKET NewMarket Corporation (NYSE: NEU) is a holding company operating through its subsidiaries, Afton Chemical Corporation (Afton), Ethyl Corporation (Ethyl), and AMPAC. The Afton and Ethyl companies develop, manufacture, blend, and deliver chemical additives that enhance the performance of petroleum products. AMPAC is a manufacturer of specialty materials primarily used in solid rocket motors for the aerospace and defense industries. The NewMarket family of companies has a long-term commitment to its people, to safety, to providing innovative solutions for its customers, and to making the world a better place. Some of the information contained in this press release constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although NewMarket's management believes its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results will not differ materially from expectations. Factors that could cause actual results to differ materially from expectations include, but are not limited to, the availability of raw materials and distribution systems; disruptions at production facilities, including single-sourced facilities; hazards common to chemical businesses; the ability to respond effectively to technological changes in our industries; failure to protect our intellectual property rights; sudden, sharp, or prolonged raw material price increases; competition from other manufacturers; current and future governmental regulations; the loss of significant customers; termination or changes to contracts with contractors and subcontractors of the U.S. government or directly with the U.S. government; failure to attract and retain a highly-qualified workforce; an information technology system failure or security breach; the occurrence or threat of extraordinary events, including natural disasters, terrorist attacks, wars and health-related epidemics; risks related to operating outside of the United States, including tariffs and trade policy; political, economic, and regulatory factors concerning our products; the impact of substantial indebtedness on our operational and financial flexibility; the impact of fluctuations in foreign exchange rates; resolution of environmental liabilities or legal proceedings; limitation of our insurance coverage; our inability to realize expected benefits from investment in our infrastructure or from acquisitions, or our inability to successfully integrate acquisitions into our business; the underperformance of our pension assets resulting in additional cash contributions to our pension plans; and other factors detailed from time to time in the reports that NewMarket files with the Securities and Exchange Commission, including the risk factors in Part I, Item 1A. 'Risk Factors' of our Annual Report on Form 10-K for the year ended December 31, 2024, which is available to shareholders upon request. You should keep in mind that any forward-looking statement made by NewMarket in the foregoing discussion speaks only as of the date on which such forward-looking statement is made. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. We have no duty to, and do not intend to, update or revise the forward-looking statements in this discussion after the date hereof, except as may be required by law. In light of these risks and uncertainties, you should keep in mind that the events described in any forward-looking statement made in this discussion, or elsewhere, might not occur.
Business Wire
23-04-2025
- Business
- Business Wire
NewMarket Corporation Reports First Quarter 2025 Results
RICHMOND, Va.--(BUSINESS WIRE)--NewMarket Corporation (NYSE:NEU) Chairman and Chief Executive Officer, Thomas E. Gottwald, released the following earnings report of the Company's operations for the first quarter of 2025. Net income for the first quarter of 2025 was $125.9 million, or $13.26 per share, compared to net income of $107.7 million, or $11.23 per share, for the same period last year. Petroleum additives sales for the first quarter of 2025 were $645.6 million, compared to $677.3 million for the same period in 2024. Petroleum additives operating profit for the first quarter of 2025 was $142.1 million, compared to a first quarter record of $150.9 million for the first quarter of 2024. The decrease in petroleum additives operating profit was primarily driven by a 7.2% decline in shipments between quarterly periods. Lubricant additives shipments decreased in Asia Pacific and North America, while Europe and Latin America reported slight increases. Fuel additives shipments were lower in all regions except Asia Pacific, which reported a small increase. Despite the lower shipments, our operating profit margin for the first quarter of 2025 remained strong as a result of our continued focus on operational efficiency. Specialty materials sales were $53.7 million for the first quarter of 2025, compared to $17.0 million for the first quarter of 2024. Specialty materials operating profit was $23.2 million for the first quarter of 2025, compared to an operating loss of $5.0 million for the first quarter of 2024. The increase in specialty materials operating profit was primarily driven by increased volumes as well as favorable product mix. As previously stated, we will see substantial variation in quarterly results for the specialty materials segment on an ongoing basis due to the nature of its business. Specialty materials sales and operating profit for the first quarter of 2024 reflect financial results since the acquisition of American Pacific Corporation (AMPAC) on January 16, 2024. Our operations generated solid cash flows during the first quarter of 2025. We repurchased common stock for $57.1 million, paid dividends of $26.1 million, and funded capital expenditures of $13.0 million. Additionally, we reduced our Net Debt by $21.5 million during the first quarter of 2025, driving our Net Debt to EBITDA ratio down to 1.1 as of March 31, 2025. As discussed in AMPAC's April 21, 2025 press release, the AMPAC board of directors approved a capital investment of up to $100 million at our AMPAC facility in Cedar City, Utah, to expand ammonium perchlorate production capacity by more than 50%. With a projected completion date in 2026, the increased production capacity will allow AMPAC to meet the demand of U.S. military and space launch programs, while also addressing the needs of U.S. allies in these critical areas. The project remains subject to approval by NewMarket's board of directors. We are pleased with the strong performance of our business during the first quarter of 2025 and continue to see favorable results from our ongoing efficiency initiatives. Investing in technology to meet customer needs, enhancing our operational efficiency, and improving our portfolio profitability will remain priorities throughout 2025. We are monitoring the uncertain macroeconomic environment, particularly the changes in international trade relations and tariffs, and assessing the potential impacts to our operations. Our dedicated team continues to make decisions to promote long-term value for our shareholders and customers, and remains focused on our long-term objectives. We believe the fundamentals of how we run our business - a long-term view, safety-first culture, customer-focused solutions, technology-driven product offerings, and world-class supply chain capability - will continue to be beneficial for all our stakeholders. Sincerely, Thomas E. Gottwald The petroleum additives segment consists of the North America (the United States and Canada), Latin America (Mexico, Central America, and South America), Asia Pacific, and Europe/Middle East/Africa/India (Europe or EMEAI) regions. The specialty materials segment, which consists of the AMPAC business, operates primarily in North America. The Company has disclosed the non-GAAP financial measures EBITDA, Net Debt, and Net Debt to EBITDA, as well as the related calculations in the schedules included with this earnings release. EBITDA is defined as income from continuing operations before the deduction of interest and financing expenses, income taxes, depreciation (on property, plant, and equipment) and amortization (on intangibles and lease right-of-use assets). Net Debt is defined as long-term debt, including current maturities, less cash and cash equivalents. Net Debt to EBITDA is defined as Net Debt divided by EBITDA for the rolling four quarters ended as of the specified date. The Company believes that even though these items are not required by or presented in accordance with United States generally accepted accounting principles (GAAP), these additional measures enhance understanding of the Company's performance and period to period comparability. The Company believes that these items should not be considered an alternative to our results determined under GAAP. As a reminder, a conference call and webcast is scheduled for 3:00 p.m. ET on Thursday, April 24, 2025, to review first quarter 2025 financial results. You can access the conference call live by dialing 1-888-506-0062 (domestic) or 1-973-528-0011 (international) and requesting the NewMarket conference call. To avoid delays, callers should dial in five minutes early. A teleconference replay of the call will be available until Thursday, May 1, 2025, at 3:00 p.m. ET by dialing 1-877-481-4010 (domestic) or 1-919-882-2331 (international). The replay passcode number is 52250. The call will also be broadcast via the internet and can be accessed through the Company's website at or A webcast replay will be available for 30 days. NewMarket Corporation is a holding company operating through its subsidiaries, Afton Chemical Corporation (Afton), Ethyl Corporation (Ethyl), and American Pacific Corporation (AMPAC). The Afton and Ethyl companies develop, manufacture, blend, and deliver chemical additives that enhance the performance of petroleum products. AMPAC is a manufacturer of specialty materials primarily used in solid rocket motors for the aerospace and defense industries. The NewMarket family of companies has a long-term commitment to its people, to safety, to providing innovative solutions for its customers, and to making the world a better place. Some of the information contained in this press release constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although NewMarket's management believes its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results will not differ materially from expectations. Factors that could cause actual results to differ materially from expectations include, but are not limited to, the availability of raw materials and distribution systems; disruptions at production facilities, including single-sourced facilities; hazards common to chemical businesses; the ability to respond effectively to technological changes in our industries; failure to protect our intellectual property rights; sudden, sharp, or prolonged raw material price increases; competition from other manufacturers; current and future governmental regulations; the loss of significant customers; termination or changes to contracts with contractors and subcontractors of the U.S. government or directly with the U.S. government; failure to attract and retain a highly-qualified workforce; an information technology system failure or security breach; the occurrence or threat of extraordinary events, including natural disasters, terrorist attacks, wars and health-related epidemics; risks related to operating outside of the United States, including tariffs and trade policy; political, economic, and regulatory factors concerning our products; the impact of substantial indebtedness on our operational and financial flexibility; the impact of fluctuations in foreign exchange rates; resolution of environmental liabilities or legal proceedings; limitation of our insurance coverage; our inability to realize expected benefits from investment in our infrastructure or from acquisitions, or our inability to successfully integrate acquisitions into our business; the underperformance of our pension assets resulting in additional cash contributions to our pension plans; and other factors detailed from time to time in the reports that NewMarket files with the Securities and Exchange Commission, including the risk factors in Part I, Item 1A. 'Risk Factors' of our Annual Report on Form 10-K for the year ended December 31, 2024, which is available to shareholders at You should keep in mind that any forward-looking statement made by NewMarket in the foregoing discussion speaks only as of the date on which such forward-looking statement is made. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. We have no duty to, and do not intend to, update or revise the forward-looking statements in this discussion after the date hereof, except as may be required by law. In light of these risks and uncertainties, you should keep in mind that the events described in any forward-looking statement made in this discussion, or elsewhere, might not occur. NEWMARKET CORPORATION AND SUBSIDIARIES (In thousands, except per-share amounts, unaudited) Three Months Ended March 31, 2025 2024 Net sales $ 700,946 $ 696,736 Cost of goods sold 464,923 480,371 Gross profit 236,023 216,365 Selling, general, and administrative expenses 42,978 44,365 Research, development, and testing expenses 33,176 31,200 Operating profit 159,869 140,800 Interest and financing expenses, net 10,700 15,654 Other income (expense), net 14,944 12,547 Income before income tax expense 164,113 137,693 Income tax expense 38,164 29,961 Net income $ 125,949 $ 107,732 Earnings per share - basic and diluted $ 13.26 $ 11.23 Cash dividends declared per share $ 2.75 $ 2.50 Expand NEWMARKET CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands, except share amounts, unaudited) March 31, 2025 2024 ASSETS Current assets: Cash and cash equivalents $ 118,253 $ 77,476 Trade and other accounts receivable, less allowance for credit losses 463,337 395,450 Inventories 489,759 505,426 Prepaid expenses and other current assets 52,415 51,203 Total current assets 1,123,764 1,029,555 Property, plant, and equipment, net 734,580 735,361 Intangibles (net of amortization) and goodwill 744,126 750,424 Prepaid pension cost 503,042 490,418 Operating lease right-of-use assets, net 75,197 71,253 Deferred charges and other assets 52,215 52,530 Total assets $ 3,232,924 $ 3,129,541 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 249,757 $ 225,874 Accrued expenses 70,463 89,277 Dividends payable 21,698 22,037 Income taxes payable 32,261 15,798 Operating lease liabilities 16,303 15,337 Other current liabilities 5,775 6,155 Total current liabilities 396,257 374,478 Long-term debt 990,555 971,281 Operating lease liabilities - noncurrent 58,100 54,754 Other noncurrent liabilities 268,516 267,445 Total liabilities 1,713,428 1,667,958 Shareholders' equity: Common stock and paid-in capital (with no par value; issued and outstanding shares - 9,434,506 at March 31, 2025 and 9,524,789 at December 31, 2024) 0 0 Accumulated other comprehensive income 43,896 32,870 Retained earnings 1,475,600 1,428,713 Total shareholders' equity 1,519,496 1,461,583 Total liabilities and shareholders' equity $ 3,232,924 $ 3,129,541 Expand NEWMARKET CORPORATION AND SUBSIDIARIES SELECTED CONSOLIDATED CASH FLOW DATA (In thousands, unaudited) Three Months Ended March 31, 2025 2024 Net income $ 125,949 $ 107,732 Depreciation and amortization 28,778 25,807 Cash pension and postretirement contributions (2,374 ) (2,727 ) Working capital changes (26,590 ) (21,434 ) Deferred income tax benefit 505 (3,899 ) Capital expenditures (13,016 ) (13,564 ) Acquisition of business, net of cash acquired 0 (683,924 ) Net borrowings under revolving credit facility 69,000 386,000 Principal payment on 3.78% senior notes (50,000 ) 0 Dividends paid (26,057 ) (23,986 ) Repurchases of common stock (57,064 ) 0 Proceeds from term loan 0 250,000 Debt issuance costs 0 (2,251 ) All other (8,354 ) (12,624 ) Increase in cash and cash equivalents $ 40,777 $ 5,130 Expand Expand
Yahoo
04-04-2025
- Business
- Yahoo
Egis appoints new CEO for Americas region
Architectural and construction engineering company Egis has appointed Alaa AbuSiam as the new CEO of its Americas region, which comprises both North America and South America. This appointment is seen as a significant step in Egis' 'Impact the Future' plan, which aims to propel the company into the top ten construction engineering businesses worldwide and double its turnover by 2029. The company's CEO, Laurent Germain, has led its strategic reorganisation, resulting in the split of the former Americas Pacific (AMPAC) region to establish the new Americas region. AbuSiam, who has been serving as Egis' CEO of the Middle East and South Asia (MESA) region since 2021, will now oversee operations in the Americas. He is also a member of the group's executive committee and is no stranger to North America, having previously worked in Texas. Meanwhile, James Chopty, the former CEO of AMPAC, has transitioned to the role of COO for Egis. In this new executive position, Chopty will concentrate on enhancing operational efficiency and financial performance across the group. Germain said: "The change further focuses the group on development within the region, and puts greater emphasis on our growth plans for the Americas in general and the US in particular. "We're on a significant expansion track for the region, and with Alaa's appointment, we are well set up to move forward. He has the experience and knowledge to achieve our objectives, having achieved significant results at Egis in the Middle East, and we are on similar trajectory in the US" During his tenure in the MESA region, AbuSiam reportedly led Egis to growth and industry leadership. He led the acquisition and integration of six regional companies, as well as the promotion of organic growth and team building in challenging markets. AbuSiam said: "I look forward to this new challenge - driving growth, delivering impact, and building strong partnerships across North and South America. Egis has a strong history in North America and I'll be moving quickly to expand our presence in the market. "We aim to invest more than $800m on acquisitions in the region to reach $1.1bn in sales by 2028, supporting local projects and enhancing job creation." "Egis appoints new CEO for Americas region" was originally created and published by World Construction Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
