Quaker Chemical Expands Metalworking Fluids Business Through Acquisition
12/01/2016 - Quaker Chemical Corp. has acquired Canadian metalworking fluids manufacturer and marketer Lubricor Inc. for US$11.8 million, the company has announced.
"Lubricor's proprietary technology and strong customer relationships provide an opportunity to expand our metalworking business in attractive end markets and leverage Quaker's global footprint to pursue cross-selling opportunities,” said Quaker chairman and chief executive Michael F. Barry in a statement.
“We believe there is a strong organizational and cultural fit between the two companies and the transaction is consistent with Quaker's strategy to increase shareholder value through acquisitions."
According to Quaker, Lubricor annually sells about US$10 million worth of branded products directly to its North American customers, who are primarily automotive suppliers, and into southeast Asia through a distributor relationship in Thailand.
“We believe there is a strong organizational and cultural fit between the two companies and the transaction is consistent with Quaker's strategy to increase shareholder value through acquisitions."
According to Quaker, Lubricor annually sells about US$10 million worth of branded products directly to its North American customers, who are primarily automotive suppliers, and into southeast Asia through a distributor relationship in Thailand.
