Total Lubrifiants, a leading player in the global lubricants market, announced the acquisition from Houghton International of its aluminum hot rolling oil (AHRO), steel cold rolling oil (SCRO) and tinplate rolling oil (TPRO) activities in the North American and European Economic Area markets. The transaction includes the associated technical support services in both regions.
The sale was a condition set by the U.S. Federal Trade Commission and the European Commission to approve the Quaker Chemical and Houghton International merger to push through. Quaker Houghton, the newly combined entity, said it received approximately USD37 million from Total S.A. The revenue of the divested product lines was approximately USD50 million, Quaker Houghton added.
“We believe that this acquisition will create value both for Total and our customers from these industries. It will strengthen our position in the industrial lubricants market, which is an important part of our strategic vision for the future,” said Philippe Charleux, senior vice president, Lubricants & Specialties at the Marketing & Services Division of Total.
“Geographically we are strengthening our strong presence in Europe and expanding our activities and market penetration in North America, especially the U.S.A.”
With this specially formulated range of hot and cold rolling oils, cleaners and accompanying fluid management services, Total is broadening its product portfolio to offer customers a fully integrated solution.