10-Jan-2011 - Quaker Chemical Corporation

Quaker Chemical Acquires Summit Lubricants Inc.

Quaker Chemical Corporation announced that it has acquired Summit Lubricants Inc., a specialty grease manufacturer, effective December 31, 2010. The purchase price of $30 million approximates Summit Lubricants' anticipated 2011 net sales. The acquisition is expected to be accretive to earnings in 2011.

Summit Lubricants is a North American manufacturer and distributor of specialty greases and lubricants whose proprietary formulations encompass a broad spectrum of specialty greases which are sold through major grease distributors and utilized in military applications. Summit Lubricants also performs grease toll manufacturing for third parties and will operate as a stand-alone subsidiary of Quaker. Included in the transaction are Summit Lubricants' commercial operations and two manufacturing operations located in Batavia, New York.

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