Quaker Chemical Corp. announced Monday that it has purchased Eural S.r.l., an Italian manufacturer of specialty metalworking fluids. Quaker officials said the Conshohocken, Pa., company will use the acquisition to broaden the range of products it markets.
Eural has carved out a meaningful position in the Italian metalworking lubricants market, Chairman and Chief Executive Officer Ronald J. Naples said. Its products and technology are very complementary to our own and will, therefore, not only strengthen Quakers position in Italy, but also help provide a broader offering to our global market.
Quaker did not divulge terms of the agreement or identify the types of products that Eural brings to its stable. Quaker claims to be the worlds largest manufacturer and marketer of lubricants to the steel industry and also makes and sells other lines of metalworking fluids. It recorded sales of $275 million in 2002.
Eural was a privately held business based in Tradate, Italy, a suburb of Milan. It owned one plant and had annual revenue of $7 million.