The Lubrizol Corporation announced that it has signed a definitive agreement to acquire the business and substantially all of the assets of Chemron Corporation, headquartered in Paso Robles, CA. Chemron formulates, produces and supplies specialty surfactants used in a wide range of industrial and consumer products. The transaction is subject to regulatory approval and is expected to close in the first quarter of 2002.
Chemron is privately held with 150 employees and annual sales of approximately $55 million. Included in the purchase are Chemron’s commercial and manufacturing operations located in Paso Robles, CA; Bowling Green, OH; and Vancouver, WA. Lubrizol and Chemron market complementary surfactant technologies to the coatings, metalworking and oilfield markets.
The acquisition extends Lubrizol’s business into high-growth surfactants markets where it does not currently compete, including personal care products and industrial and institutional cleaners.
Commenting on the pending acquisition, Don Bogus, Lubrizol vice president, fluid technologies for industry, said, “We are looking forward to the opportunity to combine Chemron’s high-quality products, market knowledge, strong customer relationships and commitment to service with Lubrizol’s technical capabilities and global reach.”