Gulf Oil International appointed Paul DeVivo, CEO of wholly owned but independently operated subsidiary Houghton International, as its new CEO and head of both companies.
DeVivo has been at the helm of U.S.-based metalworking fluids corporation Houghton International since February 2008 and will carry on this role – in addition to his new role – from the companys Valley Forge, Pa., headquarters. Until Sept. 23, 2013, the effective date of DeVivos appointment, a CEO role at Cayman Islands-based lubricants company Gulf Oil International didnt exist, a company official told Lube Report.
In a recent planning session with key Gulf and Houghton managers, we acknowledged the success of our initial synergy targets and established additional synergy and integration goals for the future, DeVivo said in an Oct. 28 press release. The integration of these two businesses willcreate considerable value for shareholders.
DeVivo held senior management positions at Valspar Corp., Unitor A/S, Drew Chemical Corp., and Ashland before joining Houghton.
Gulf Oil International, owned by the India-based Hinduja family conglomerate, is a lubricants and grease company with blending plants in Argentina, China, India, Indonesia, Philippines, and the United Arab Emirates. The Gulf brand is marketed in more than 100 countries across six continents.
Gulf acquired Houghton International Inc. for $1 billion in December 2012. Founded in 1865, Houghton produces metalworking fluids at its 12 manufacturing facilities in 10 countries, and sells its products in 79 countries.