Houghton International said to be up for sale

Metalworking fluids manufacturer Houghton International is being put up for sale by its private equity owner AEA Investors LP. The deal could be worth more than US$1 billion, Reuters reported. Deutsche Bank and Morgan Stanley have been hired to advise on the sales process, which has yet to be launched. AEA bought Houghton for an undisclosed price in 2007. Headquartered in Valley Forge, Pennsylvania, U.S.A., Houghton makes specialty chemicals, oils and lubricants for the metalworking, automotive, steel and other industries. (May 11, 2012)