INDUSTRY NEWS
Leaders in Industrial Process Fluids Combine to Form Quaker Houghton
Quaker Chemical Corporation and Houghton International have combined to create Quaker Houghton (NYSE: KWR), the global leader in industrial process fluids to the primary metals and metalworking markets.
“We are rooted in companies commonly acknowledged as authorities in industrial fluids and valued experts in customer processes,” said Michael F. Barry, Chairman, Chief Executive Officer, and President of the new company. Mr. Barry, who previously served Quaker Chemical in similar capacities, went on to say, “Our similar cultures and values, combined with the talent and resources we bring to Quaker Houghton, create exciting opportunities to deliver innovative solutions that will help our customers’ operations run even more efficiently and effectively.”
The company’s combined breadth of product and service offerings can be found in end-markets such as aerospace, aluminium, automotive, machinery, can manufacturing, industrial parts manufacturing, mining, offshore, steel, and tube and pipe industries.
“Our foundation will be the same customer-intimate operating model that has been key to the success of our customers,” Mr. Barry said. “Moving forward together, we will draw upon our rich history and shared expertise to enhance our product and service offerings and continue to deliver value-added service expertise to our customers.”
LINK
www.quakerhoughton.com
CPS Performance Materials Group acquires GEO Specialty Chemicals
CPS Performance Materials, a diversified specialty chemicals manufacturer of performance polymers, fine chemical, and chemical illumination solutions, has acquired GEO Specialty Chemicals, a diverse supplier of specialty chemicals and materials to the coatings, adhesives, medical, water treatment and construction markets. GEO Specialty Chemicals operates in three divisions – Paints & Coatings, Water Treatment, and Specialty & Construction – with leading positions in its primary chemistries from 19 production sites in the U.S. and Europe.
CPS is a portfolio company of Arsenal Capital Partners, a leading private equity firm that specialises in investments in middle-market specialty industrials and healthcare companies. In the recent past, GEO Specialty Chemicals has undertaken a number of expansions to increase its presence in the attractive markets of materials for contact lenses, additives for oil and gas drilling, and municipal and industrial water treatment. This builds
SONGWON deeply saddened by unexpected death of CEO Maurizio Butti
The Board of Directors of SONGWON Industrial Group has announced, with deep sadness, the unexpected death of the company’s CEO, Maurizio Butti on Saturday, September 7th, 2019.
Commenting, Jongho Park, Chairman of the Board said: “The entire SONGWON family mourns the sudden loss of our CEO. With the organisation since
8 LUBE MAGAZINE NO.153 OCTOBER 2019
upon GEO’s already strong position in methacrylate chemistry where it is a leading supplier to the global coatings and adhesives markets. GEO is also the largest U.S. producer of glycine, a key amino acid used in a variety of nutrition and personal care products.
“The addition of GEO to CPS builds on our strategy to expand the breadth of our specialty chemicals platform with highly complementary capabilities and resources. The acquisition strengthens CPS’s technology offerings to both GEO’s and CPS’s customers and positions CPS for significant growth,” said Sal Gagliardo, an operating partner of Arsenal and the chairman of CPS.
Reprinted with permission from F+L Daily eNewsletter
LINK
www.geosc.com/
2006, Maurizio was an inspiring leader, managing the company with humour, integrity and passion. His dedication to the transformation and development of the company was immense. On behalf of SONGWON’s management team and employees, we extend our deepest sympathies and condolences to Maurizio’s family at this very sad and difficult time.”
In the interim, Jongho Park will serve as acting CEO while the company works on the succession planning. Further information will be released in due course.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72
