Dover Buys Mayco From BP


Dover Chemical announced last week that it has purchased sulfurized additive producer Mayco from BPs Castrol Industrial North America. Terms of the deal were not disclosed.

Dover, which makes chlorinated paraffins, said the acquisition will increase the range of products it offers.

Its an advantage in marketing, President Dwain Colvin said. A lot of customers buy both types of products and we were out there just selling one of them. We plan to integrate Maycos products into the Dover line and to offer the current Dover line to Mayco customers.

Dover retained Maycos nine employees and established a subsidiary, Mayco Chemical Corp., which will continue operating at its plant in Warminster, Pa.

Founded in 1949, Mayco was an independent company until bought by Castrol in 1987. Castrol maintained it as a separate business and downplayed the relationship between the companies because Mayco sold additives to both Castrol and its competitors.

Mayco Vice President and General Manager Curtis Lege said BP decided to sell Mayco because it did not consider it a core asset.

They were developing a more focused strategy and saw us as somewhat tangential, Lege said. Were very excited about the opportunities presented to us by this association with Dover. Before, Mayco was a chemical company that was inside a lubricant company. Now we have more in common with our parent.

Dover, which is based in Dover, Ohio, is a wholly-owned subsidiary of New York City-based ICC Industries Inc. Its product lines include resinous chlorinated paraffins, chlorinated paraffin emulsions, organo-phosphites, brominated and bromo-chlorinated flame retardants, metallic stearates and specialty phenols, sold primarily to industrial lubricant blenders.

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