EoW March 2011

12 / 162

EuroWire – March 2011 10
corporate news
Quaker Chemical 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
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.
“In addition to Summit’s ability
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 :
Website :
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
Fax: +41 52 633 0299
Email:
Website:
Tyco sells off
electrical and
metal arm for
$720m
$30m deal as Quaker
reaches the Summit
The Summit plant in New York ▼ ▼