Gulf Oil recently reached an agreement to acquire Houghton International. A global supplier of metalworking fluids, Houghton will join a portfolio of brands owned by the Hinduja Group, including Ashok Leyland and Gulf Oil International, which produces and markets gasoline, lubricants, greases and other materials for industrial applications.
"This is an extremely exciting development, and we are delighted to welcome Houghton International and its highly talented and committed staff to the global Gulf family," said Frank Rutten, Gulf Oil International vice president. "The Houghton brand, its products and its global market leadership position in metalworking fluids are all outstanding. Our aim is to leverage capabilities of Houghton and Gulf to expand geographic coverage, grow sales and distribution networks, and strengthen our manufacturing footprint for improved service and support to our customer networks. We look forward to a great future together."
Houghton will be operated as a standalone sister company to Gulf Oil Corporation. The transaction is expected to close by the end of the year.
"This marks a new and vital chapter in Houghton’s evolution, and to join forces with a successful and famous global brand such as Gulf will offer important future benefits and opportunities to our stakeholders," said Paul DeVivo, Houghton’s chief executive officer.
For more information, visit www.gulfoilltd.com.