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Restructuring | 6 Months Ended
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Jun. 30, 2020
Restructuring Charges [Abstract] |
Restructuring | NOTE 4 – RESTRUCTURING During the quarter ended June 30, 2020, the Company has recorded provisions of $21.1 million for the restructuring of its Octane Additives segment in line with the end of the manufacturing and sale of tetra ethyl lead (“TEL”) for use in motor gasoline. The Company expects that the Octane Additives segment will not make any further sales and will cease to be a reporting segment from January 1, 2021 . Production of TEL will continue for sales to the aviation market, as reported within our Fuel Specialties segment. The provisions comprise the future committed costs of environmental monitoring of $2.0 million, remediation of facilities of $7.5 million, provision for a loss making contract of $7.2 million, impairment of tangible assets of $2.0 million and costs of redundancy due to the down-sizing of the TEL operations of $2.4 million.

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- Definition The entire disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References No definition available. + Details
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