KLK Oleo acquired a controlling stake in Italian oleochemical producer Temix Oleo, the companies announced. The move expands KLK Oleo’s capabilities for manufacturing esters for base oils and lubricants.
Milan-based Temix Oleo offers ester base stocks for metalworking fluids, along with hydraulic fluids, along with other applications such as plastics and cosmetics. It operates a plant in Calderara, Italy, with capacity to produce 25,000 metric tons per year of esters. Its products come mostly from plant oils, and it states that it taps a variety of types of plants according to market developments.
KLK Oleo, a subsidiary of Kuala Lumpur, Malaysia-based KLK, supplies surfactants and additives for lubricants, industrial oils, metalworking fluids and greases, and also makes biobased API Group V base oils, mostly from palm oil.
The company has manufacturing sites in the United States, Asia and Europe – specifically, in Germany, the Netherlands, Switzerland and Belgium
“This acquisition is an opportunity for Temix Oleo to continue to grow, in product portfolio and geographic areas, with focus on sustainability and innovation,” Roberto Cella, managing director of Temix Oleo, said in a press release.
The deal is expected to close next month.