EoW March 2011

corporate news

$30m deal as Quaker reaches the Summit

Quaker Corporation has bought Summit Lubricants Inc, a leading speciality grease manufacturer, for $30m. Summit Lubricants is a North American manufacturer and distributor of speciality greases and lubricants whose proprietary formulations encompass a broad spectrum of speciality greases which are sold through major grease distributors and utilised in military applications.   Summit also performs grease toll manufacturing for third parties and will operate as a stand-alone subsidiary of Quaker. Included in the transaction are Summit Lubricants’ commercial operations Chemical

The Summit plant in New York ▼ ▼

and two manufacturing operations located in Batavia, New York. Michael Barry, chairman, CEO and president, said: “Summit Lubricants is an excellent strategic fit for Quaker as it is complementary to our existing business.

to grow its business through its current customer base, we are excited at the prospect of offering Summit’s complementary product line to our existing customers both in the US and globally.” Quaker Chemical – USA Email : info@quakerchem.com Website : www.quakerchem.com

“In addition to Summit’s ability

TYCO International has sold a 51 per cent stake in its electrical and metal products business to the private equity firm Clayton, Dubillier & Rice LLC for $720m. The business will operate as a stand alone entity under the name Atkore International. The business designs, manufactures and sells galvanised steel tubes and pipes, electrical conduit, armoured wire and cable, metal framing systems and building components serving a wide range of construction, electrical, fire, security andmechanical applications. The business generated revenue of $1.4 billion in 2010. Tyco International – Switzerland Tyco sells off electrical and metal arm for $720m

Fax : +41 52 633 0299 Email : info@tyco.com Website : www.tyco.com

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EuroWire – March 2011