Quaker Chemical acquires Summit Lubricants

Quaker Chemical Corp. announced that it has acquired Summit Lubricants Inc., a leading specialty grease manufacturer, effective December 31, 2010. Included in the transaction are Summit Lubricants’ commercial operations and two manufacturing operations located in Batavia, N.Y., U.S.A. The purchase price of US$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. Summit Lubricants also performs grease toll manufacturing for third parties and will operate as a stand-alone subsidiary of Quaker Chemical. (January 3, 2011)