Declaring its intention to survive steel industry consolidation, Quaker Chemical Corp. on Thursday announced that it is buying United Lubricants Corp., of Middletown, Ohio.
A manufacturer and marketer of specialty lubricants and chemical management services, United caters primarily to the U.S. steel industry, which in recent years has fallen on well-publicized hard times. Quaker, which makes specialty chemical products mostly for the steel and automotive industries, has experienced a downturn in its own business. On Thursday it announced a 55 percent drop in earnings for 2001.
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