Croda International Plc announced last week the acquisition of Rewitec GmbH, stating it aims to help the German additive supplier to expand. The companies did not disclose the price of the transaction.
Rewitec, which is based in Landau, Germany, was formed in 2003 and supplies nano- and micro-particles designed to form reconditioning layers that help reduce friction in gearboxes, bearings and engines. Croda said those additives are marketed to the wind turbine, automobile and shipping industries.
Croda officials said they expect their company to give Rewitec a platform and resources to grow its business.
We see many new opportunities for their technologies within existing and new markets, such as marine lubrication, where the performance of their ingredients has already been proven, Maarten Heybroek, president of Crodas Performance Technologies unit, said in a July 17 press release.
Croda said it will absorb all Rewitec employees.
Based in Snaith, Yorkshire, United Kingdom, Croda supplies derivatives of plant oils for applications such as lubricants, pharmaceuticals, personal care goods and agriculture.