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Restructuring
9 Months Ended
Sep. 30, 2020
Restructuring Charges [Abstract]  
Restructuring
NOTE 4 – RESTRUCTURING
During the quarter ended June 30, 2020, the Company 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. As a result, the Octane Additives segment ceased
trading and is no longer
a reporting segment from July 1, 2020. Production of TEL will continue for sales to the aviation market (“AvTel”), as reported within our Fuel Specialties segment.
The
restructuring
 
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. During the quarter ended September 30, 2020 the utilization of these provisions and the unwinding of the discounting was not material.