GULF OIL INTERNATIONAL GROUP FURTHER STRENGTHENS ITS POSITION
Houghton International, the world’s leading metal working fluids company, and subsidiary of the Gulf Oil International Group, has enhanced its global position yet further through the acquisition of Henkel’s North American Steel Mill Business
Houghton completed the acquisition of Henkel’s North American Steel Mill business on March 31st and the key product lines included in the transaction are rolling oils, pickle oils, wet temper fluids and steel mill cleaners.
In addition, through this acquisition, Houghton has gained vital resources in sales, technology and business development, to continue to serve existing and new customers in this industry.
This acquisition is the latest in a number of growth initiatives that are ongoing throughout the Gulf portfolio of companies – within the overall umbrella of the parent Hinduja Group – and marks Houghton’s latest strategic investment in specialty chemicals that enables the company to better serve its North American steel industry customer base.
In an era when strategically, many of the world’s largest oil companies are moving out of downstream operations, the strengthening of Gulfs downstream presence further still, with this latest acquisition, reinforces Gulf’s commitment to its core business in the downstream lubricant industry.
“This acquisition will bring together two talented teams driving innovation and providing highly specialised industry expertise for our Steel Mill customers” said Paul DeVivo, CEO of Gulf Oil International Ltd and Houghton International Inc. “We welcome the Henkel Steel Mill employees to the Houghton family and look forward to combining our experiences and industry knowledge.”
About Houghton International
Houghton International is a subsidiary of Gulf Oil International, a Hinduja Group Company. Houghton was acquired from US venture capital firm AEA Investments in 2012 creating the world’s 9th largest lubricant company at that time.
Since 1865, Houghton International Inc. has been a leader in the development and production of specialty chemicals, oils and lubricants for the steel, metalworking, automotive, aerospace, bearing, offshore and aluminum industries, along with a variety of other markets.
Headquartered in Valley Forge, Pa., USA, Houghton maintains manufacturing, distribution and research facilities throughout the world.
Additional information is available atwww.houghtonintl.com
About Gulf Oil International
The Gulf brand is one of the oldest established and most instantly recognizable of all oil companies.
The Gulf Oil International Group is one of the largest independently owned downstream lubricants companies.
Gulf currently operates blending plants in Argentina, China, India, The Philippines and the United Arab Emirates.
The Gulf brand is marketed in Asia, Africa, Australia, Europe and North and South America.
Gulf Oil International has a comprehensive range of lubricants in the market place, which carry with them the latest OEM recommendations.
Additional information is available at : www.gulfoilltd.com