Jul 17 2010
Quaker Chemical Corporation (NYSE: KWR) announced today that it has acquired D.A. Stuart's U.S. aluminum hot rolling oil business from Houghton International, including the rights to sell the product portfolio internationally.
With this acquisition, Quaker becomes a leading player in the U.S. aluminum hot rolling market serving some of the largest reversing mills, single and multi-stand tandem finishing mills, and combination mill systems in the country. The acquired business had net sales in 2009 of approximately $7 million.
Michael F. Barry, Quaker's Chairman, CEO and President, commented, "This business is a strategic fit for Quaker because it is complementary to our existing business, is aligned with our core competencies of lubrication and surface treatment, and will facilitate growth in our primary metals business both within and outside of North America. The aluminum hot rolling market has strong long-term growth prospects, especially in emerging economies such as Russia, South America, Eastern Europe, the Middle East and Asia. Quaker currently has a presence in those countries and is well positioned for growth."
Source: http://www.quakerchem.com/