Progivens products are used in metalworking fluids, as well as paints, coatings, detergents and other applications. ISP already produces biocides – along with a wide variety of other chemicals – but does not currently sell them into the metalworking fluids market.
Progiven is a strategically important acquisition for ISP’s global biocide business, allowing us to further increase the level of technical service and product offering in the industrial markets we serve, ISP President and Chief Executive Officer Sunil Kumar said. With its world-class technical capabilities, Progiven will accelerate the growth of ISP’s industrial biocide franchise in Europe and around the world.
ISP said Progivens products will continue to be manufactured at its plant in Mount Didier, France. ISP declined to disclose the number of people Progiven employs but said they will be absorbed by ISP.
ISP also supplies specialty chemicals and performance-enhancing products for the personal care, pharmaceutical, food, beverage and other industries. It does not currently supply products that go into lubricants, although its Industrial Products division does produce materials used as intermediates in refining processes to help extract lubricating oils.