Infineum has confirmed the sale of its PARATAC brand and associated business to Functional Products Inc.
Based in Macedonia, Ohio, Functional Products Inc. formulates, blends and manufactures lubricant additives to improve the performance of oil, grease and bio-based fluids operating under various conditions.
“We were impressed by the strong reputation of Functional Products Inc. in the market and knew that we had found a strong sale partner well-suited to maintain the quality and reliability attributes for which the Infineum PARATAC brand is best known,” said Philippe Creteur, president of Infineum USA L.P.
“We thank Functional Products Inc. for their support in recent weeks to ensure a smooth transition of the business in order to maintain client expectation and delivery.”
“We are thrilled to have the Paratac and Paratac XT brands as part of our tackifier portfolio. Paratac is a well recognised and accepted brand. Our customers know that Functional is committed to tackifiers with an assured, ongoing supply as well as technical support for innovation,” David DeVore, president of Functional Products said.
Functional’ s plan is to immediately reach out to existing and former customers with an aggressive relaunching program that offers improved service and technical support.
The sale figure was not disclosed by either party.
With global headquarters in Milton Hill, UK, Infineum is a developer, manufacturer and marketer of lubricant additives used primarily in automotive, heavy-duty diesel and marine engines, and additives for diesel fuels. Its customers are oil companies, other lubricant and fuel marketers and OEMs. The Infineum product line also includes specialty additives for small engines, automotive transmissions, and gas engines, and industrial oils. Infineum has business and technology centers in the U.S.A., UK, Singapore and China and has sales representation in more than 70 countries.