Lubricant additives supplier Infineum sold its Paratac brand of tackifiers and associated business to Functional Products Inc., the companies announced last week. The financial terms were not disclosed.
The Paratac line includes two products – Paratac and Paratac XT – which are formulated from polyisobutylene and which are used in industrial oils to protect against dripping, spattering and wipe off.
Paratac is an oil solution made with high molecular weight polyisobutylene, contributing significant tackiness when used at concentrations of 0.5 percent to 2 percent, the website claims. Paratac XT, a low-viscosity solution of high molecular weight polyisobutylene in base oil, works best when used at concentrations of 0.2 percent to 1 percent mass.
Macedonia, Ohio-based Functional Products intends to immediately reach out to existing and former customers with an aggressive relaunching program that offers improved service and technical support, the company said in a press release.
Functional [Products] does not plan on changing the manufacturing location at this time due to customer requirements, said David DeVore, president of Functional Products. He continued, There will be no change in the Paratac and Paratac XT formula.
Milton Hill, United Kingdom-headquartered Infineum and Functional Products declined to discuss the transaction beyond their press release.