Quaker Chemical Corporation (KWR) said that it has recently acquired the remaining 45 percent ownership interest in its India joint venture, Quaker Chemical India Private Limited (QCIL), from its joint venture partner, Asianol Lubricants Private Limited.
QCIL sells products to the steel and metalworking industries in India and has associates based in various locations around India. Quaker had been a joint venture partner in QCIL for 20 years.
"India is a market with strong growth opportunities in most of our business lines. This acquisition, along with our new plant in Dahej to be completed in 2018, further strengthens our position in India and allows us to simplify our overall corporate structure and improve our organizational efficiencies," said Michael Barry, chairman, CEO and president, Quaker.
No comments:
Post a Comment