Hoganas AB, maker of powdered metals for the metallurgical industry, will acquire Wales, U.K.-based lubricants manufacturer Abril Industrial Waxes Ltd. on June 1. Terms were not disclosed.
Hoganas acquired 19 percent of Abril in 2010 and is now using its option to acquire the companys remaining shares. Abrils waxes and lubricants for industrial purposes and consumer goods will be further developed, Hoganas stated. Production will remain in Pyle, Wales, and Hoganas plans additional investment in the plant, the company stated in a news release.
Melker Jernberg, Hoganas president and CEO, said the acquisition will allow the company to enhance its expertise in lubricants and further develop its offering of metal powder mixes. The product range includes metal powders used for production of sintered components and welding electrodes, alloys for surface protection of exposed metal surfaces, brazing filler metals and pastes, and inductors and electric drive systems. Many of the companys products serve as lubricant systems or aim to improve lubrication for metal parts.
Abril Industrial Waxes was founded in 1945 by chemist Leo Ivanovsky. Abril started out as a pioneer in the field of synthetic waxes and today employs around 20 people.
According to its web site, Hoganas has 1,700 employees and 13 production centers making 1,500 products. Established in 1797 as a coal mining company, Hoganas is owned by two Swedish companies – Lindengruppen, which develops industrial companies, and privately owned holding company Foundation Asset Management.