Quaker Chemical Corporation Announces Acquisition Of Canadian Business

23-Apr-2001

uaker Chemical Corporation today announced that it has acquired from its Canadian licensee, H. L. Blachford, Ltd., rights to market, sell, and service all Canadian integrated steel makers and certain accounts in the Canadian metalworking market. H. L. Blachford, Ltd. will continue to be Quaker's exclusive supplier of products and services to all other customers in Canada. This transaction allows for better allocation of resources between the two companies and will allow Quaker to better implement its globalization strategy.

Joseph W. Bauer, President and Chief Operating Officer, stated, "Our strategy is to focus on our two core businesses…steel and metalworking. This transaction is consistent with this strategy and is in keeping with our Destination of becoming a single worldwide company delivering everywhere the best from anywhere."

John Blachford, President and Chief Executive Officer of H. L. Blachford Ltd., said, "Our customers will benefit from the increased application of Quaker's global resources, while maintaining service and supply from our QS9000 and ISO 9001 accredited facilities."

It is expected that this transaction will provide Quaker with additional annual revenues of about $3.0 million and will be slightly accretive to earnings in 2001.

Other news from the department

Most read news

More news from our other portals

Discover the latest developments in battery technology!