SI Group signed a deal to acquire Albemarles antioxidants, ibuprofen and related business and assets, including a lubricant antioxidants line. Terms were not disclosed.
Subject to approvals, the acquisition is expected to be completed later this year.
The transaction includes Albemarles manufacturing sites in Orangeburg, S.C., and in Jinshan, China. It also includes Albemarles applications and technical support capabilities in Shanghai, China, and in Baton Rouge, La. Only Orangeburg is involved in the lubricant antioxidant line, Ashley Mendoza, Albemarle’s communications director, told Lube Report.
SI Group said the deal expands its antioxidants business. According to SI Groups web site, the companys product lines include oil additives and industrial fluids. The oil additives include inhibitors, antioxidants and dispersants.
According to Albemarles web site, its Ethanox lubricant antioxidants enhance thermal stability, improve lubricant performance and reduce sludge formation, extending the useful life of lubricants. They reduce thickening and inhibit acid formation in a variety of applications, including engine oils, automatic transmission fluids and industrial oils, as well as compressor oil and gear and hydraulic oils.
Its the largest deal in SI Groups history, Frank Bozich, SI Group president and CEO, said in a news release. This acquisition is a natural fit to our expansion strategy, transforming SI Group into a solutions leader in the global antioxidant and pharmaceutical active ingredients markets.