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Article: Around the Industry
- Article from:
- Tribology & Lubrication Technology
- Article date:
- October 1, 2007
- Author:
CopyrightCopyright Society of Tribologists and Lubrication Engineers Oct 2007. Provided by ProQuest LLC. (Hide copyright information)
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Lubrizol makes bid for Croda unit
Wickliffe, Ohio-based, The Lubrizol Corp. and Croda International Plc have entered into an agreement for Lubrizo! to purchase Croda's refrigeration lubricants business.
The Croda business reported revenues of $84 million last year.
The acquisition includes Croda's polyol ester and alkyl benzene refrigeration lubricant technology, Emkarate and Icematic brand names, customer lists, manufacturing know-how and complementary intellectual property. No manufacturing facilities are included in the transaction.
In 2006 Croda acquired the refrigeration lubricants business as part of the Uniqema acquisition from Imperial Chemical Industries PLC.
The deal is expected ...