Swedish grease maker Axel Christiernsson International AB announced last week that it has reached an agreement to acquire Shells Christol Grease SAS. Axel officials said the deal is consistent with the companys goal of being one of Western Europes largest grease producers.
It is our objective to be the leading and first choice supplier of customised lubricating grease solutions, Axel Managing Director Johan Stureson said. With the combined resources of Axel and Christol we will now be even better placed to service all our existing and new customers.
Christol is located in Niort, France, has 26 employees and produces more than 3,000 metric tons of grease per year, primarily for private label sales in France. Axel said the agreement called for the transaction to be executed through a share purchase, but it did not disclose terms. It did state that it intends for Christol to continue operating under its own name and for its president, Herve Grignou, to retain his position.
Axel is based in Nol, Sweden, and operates plants there and in Heijningen, Netherlands. According to the companys website, those facilities have capacity to make 13,000 metric tons per year, but are being expanded to 20,000 metric tons.
Axel is owned by the Swedish investment firm Fairford Holdings Scandinavia AB.