Lubrizol Corp. said Monday that it has agreed to buy Chemron Corp., a specialty surfactant formulator and producer based in Paso Robles, Calif.
Wickliffe, Ohio-based Lubrizol said the acquisition will extend its business into high-growth surfactants markets for items such as personal care products and industrial and institutional cleaners, where it does not currently compete.
Chemron has annual sales of $55 million, employs 150 people and operates commercial and manufacturing facilities in Paso Robles, Bowling Green, Ohio, and Vancouver, Washington. The acquisition is subject to regulatory approval but expected to close this quarter.