Industry News

Quaker Chemical to Acquire Houghton

Quaker Chemical Corporation has acquired Houghton International Inc. for USD1.42 billion.

United States: Quaker Chemical Corporation, a Pennsylvania based chemical company, has announced its decision to acquire London based Houghton International Inc. (Hinduja Group) for USD1.42 billion. The deal would be completed by early 2018 and a cash amount of USD172.5 million would be paid by Quaker. Quaker would also exchange 24.5 percent shares of combined company, representing about 4.3 million shares of the newly issued stock of Quaker Chemicals. This would make Hinduja the second largest shareholder in Quaker Chemicals. However, Quaker would also inherit a debt of USD690 million in this deal and expects to reduce the debt quickly due to its strong cash flow generation.

TechSci Research depicts that the deal would strengthen Quaker’s core segments, which would in turn lead to better service for automotive, aerospace, heavy equipment and metal industries. Expanding heavy equipment and automotive industry would create augmented demand for lubricants across the globe.

According to the recently published report by TechSci Research,Global Specialty Lubricants Market By Type, By End Use, By Region Competition Forecast and Opportunities, 2011 – 2025”, the global specialty lubricants market is anticipated to cross $ 81 Billion by the end of 2025. Globally, synthetic oil-based specialty lubricant is the most preferred type of specialty lubricants. High demand for synthetic oil-based specialty lubricants is due to their superior performance at elevated temperatures, oxidation stability and durability, as compared to conventional mineral oil lubricants. Additionally, North America dominated global demand for specialty lubricants, and the same trend is expected to continue during forecast period as well. Some of the leading players operating in global specialty lubricants market include Klueber, Exxon Mobil, Dow Corning, Sinopec and BASF SE, among others.

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