Lubrizol to Acquire Chemtool

Noria news wires
Tags: synthetic lubricants, greases, industrial lubricants

The Lubrizol Corporation has announced that it has signed an agreement to purchase Chemtool Incorporated, a leading manufacturer and supplier of custom formulated greases to the lubricant industry. The deal is expected to close in the fourth quarter of 2011 following the completion of regulatory approvals.

Founded in 1963 and headquartered in Rockton, Ill., Chemtool offers a wide variety of lubricating greases to meet customer needs in markets ranging from aviation to transportation. The company has focused on providing its customers innovative technologies and services that improve performance, extend service life, support process improvements and reduce the overall cost of running their facilities.

The transaction supports Lubrizol's vision to help its customers be more successful and is consistent with its Lubrizol Additives Custom Solutions business model. With an ever-growing number of customers choosing to outsource the manufacture of their grease products, the addition of Chemtool will allow customers access to high-quality grease products while providing them the opportunity to focus their time and resources on other core products.

With Lubrizol's global presence, the acquisition enhances Chemtool's ability to serve its current customers in their operations outside North America. Customers will be assured delivery of high-quality, consistent products around the world.

"The combination of Lubrizol's expertise in additive technology along with Chemtool's knowledge in manufacturing grease is a natural fit, which we believe will lead to more diverse product offerings for our global customers," said James L. Hambrick, Lubrizol chairman, president and CEO.

"This is an exciting time and significant milestone for Chemtool," stated Jim Athans, Chemtool owner and president. "Our customers will continue to receive the same level of excellent service provided by Chemtool but now with the added technology, investment resources and global reach available from Lubrizol."

Chemtool will continue to operate independently and will retain the Chemtool name.

For more information, visit www.chemtool.com.