Condat agreed to acquire glass and metal forging lubes company Renite, the company announced earlier this month. Financial terms were not disclosed.
Through this expansion, Chasse-sur-Rhone, France-based Condat hopes To increase Condats market share in the glass and forging market lubrication, to extend [its] application fields in North America and strengthen [its] diversification strategy, said Communication Manager Nathalie Vidal.
Vidal noted that Renite customers will have access to a more complete range of products and services through the deal. Additionally, the deal will allow Condat to fill in some gaps in its product offerings. Condat did not provide specific information on specific product information.
“This acquisition will strengthen Condats position as a major supplier for glass and forging lubricants. Through this takeover, Condat shows its determination to invest in its core business,” the French company noted in a press release.
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The acquisition does not require international regulatory approvals and closed on Oct. 3.
Founded in 1854, Condat develops fire resistant fluids, technical greases, metal forming lubricants, cutting fluids and various other lubricants. The company operates globally, with its subsidiary Condat Corp. based in Saline, Michigan.
Renite provides high temperature lubricants, such as mold-release and die-release agents, for the hot-forming glass and hot-working metal industries, according to the companys website. The specialized lubricants provider is based in Saline, Michigan and was established in 1932.
Photo: Condat