|By PR Newswire||
|August 15, 2014 09:00 AM EDT||
CONSHOHOCKEN, Pa., Aug. 15, 2014 /PRNewswire/ -- Quaker Chemical Corporation (NYSE: KWR) announced today that it has acquired ECLI Products, LLC, a specialty grease manufacturer, headquartered in Aurora, Illinois for $52 million. The company specializes in greases for OEM first-fill customers across several industry sectors, including automotive, industrial, aerospace/military, electronics, office automation and natural resources, with estimated 2014 EBITDA of $7 million. This transaction is consistent with Quaker's strategy to increase shareholder value through acquisitions and to complement Quaker's 2010 entry into the specialty grease market with the acquisition of Summit Lubricants.
Michael F. Barry, Chairman, CEO and President, commented, "We continue to build our specialty grease business with this acquisition, and believe it also provides a significant opportunity to leverage Quaker's global operations footprint -- together with the product and market expertise of ECLI Products. This company's strong customer focus and relationships, as well as application engineering expertise, complement Quaker's business model. This acquisition also expands our high-end grease business in attractive end markets while positioning Quaker for future growth. We intend to operate ECLI as a wholly owned subsidiary and an independent entity. Our first grease acquisition, Summit Lubricants, will also continue to operate as an independent entity and remain focused on its ongoing commitment to customers and the third-party manufacturing of specialty lubricants."
ECLI Products, LLC has 35 employees, based at its manufacturing facilities in Illinois and Ohio, a sales presence in Germany, and distributor relationships in Europe, Asia and South America. The company operates through two business segments, Engineered Custom Lubricants and Lubrication Technologies, Inc.
Quaker Chemical is a leading global provider of process fluids, chemical specialties, and technical expertise to a wide range of industries, including steel, aluminum, automotive, mining, aerospace, tube and pipe, cans, and others. For nearly 100 years, Quaker has helped customers around the world achieve production efficiency, improve product quality, and lower costs through a combination of innovative technology, process knowledge, and customized services. Headquartered in Conshohocken, Pennsylvania USA, Quaker serves businesses worldwide with a network of dedicated and experienced professionals whose mission is to make a difference.
SOURCE Quaker Chemical Corporation
Scrum Alliance has announced the release of its 2015 State of Scrum Report. Almost 5,000 individuals and companies worldwide participated in this year's survey. Most organizations in the market today are still leading and managing under an Industrial Age model. Not only is the speed of change growing exponentially, Agile and Scrum frameworks are showing companies how to draw on the full talents and capabilities of those doing the work in order to continue innovating for success.
Aug. 4, 2015 02:45 PM EDT
Aug. 4, 2015 02:00 PM EDT Reads: 382
Aug. 4, 2015 01:30 PM EDT
Aug. 4, 2015 01:00 PM EDT Reads: 290
Aug. 4, 2015 12:00 PM EDT Reads: 110
Aug. 4, 2015 11:45 AM EDT
Aug. 4, 2015 11:30 AM EDT Reads: 113
Aug. 4, 2015 09:30 AM EDT Reads: 112
Aug. 4, 2015 08:45 AM EDT Reads: 256
Aug. 4, 2015 07:00 AM EDT Reads: 224
Aug. 3, 2015 11:00 PM EDT Reads: 703
Aug. 3, 2015 06:45 PM EDT Reads: 546
Aug. 3, 2015 03:30 PM EDT
Aug. 3, 2015 03:00 PM EDT Reads: 569
Aug. 3, 2015 12:30 PM EDT Reads: 215