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Grease Market News General, Acquisitions
To Grow, A Venerable Industrial-Lubricants Firm Looks to Ohio
Back in the 1860s, before there was a Sun Oil Co., Philadelphia was home to a disruptive, fast-growing petroleum sector, including the industrial-lubricants firm now known as Houghton International Inc.
Houghton is still here, along with publicly traded rival Quaker Chemical Co. of Conshohocken. Houghton boss Michael Shannon says they're "like Villanova and St. Joe's," friendly neighborhood rivals.
But the business - and its owners - have left petroleum behind and gone profoundly international.
Hinduja Group Acquires Wallover in USA Through Gulf Oil Subsidiary Houghton
This acquisition marks Houghton’s latest strategic investment in the specialty metalworking and industrial fluids segment that enables the company to better serve North American manufacturers.
Fuchs Petrolub said yesterday it acquired Chevron’s worldwide white oils and food machinery lubricants business, which will be integrated into Fuchs Lubricants Co. (USA). The price was not disclosed. “This includes the brands and formulations for our white oils and food-grade product lines,” Chevron spokeswoman Quyen Teng told Lube Report.