International Group Inc. announced this month that it has purchased BPs wax business in North and Central America. Terms of the deal were not disclosed.
The transaction includes formulations, trademarks, manufacturing knowledge, inventory and accounts for wax operations that have been handled by BP Global Specialty Products. BP will close and try to sell its wax blending plant and office in Skokie, Ill., and a smaller leased blending plant in San Francisco. The business employed 60 individuals, who were not included in the transaction.
BP acquired the business as part of its 2000 purchase of Burmah Castrol.
IGI, which is headquartered in Wayne, Pa., is the largest independent wax business in North America. It has a Toronto refinery that converts slack wax into finished wax, as well as a network of blending plants, terminals and warehouses.