French lubricant producer Condat announced last week that it has purchased Henkels wire drawing lubricants business for an undisclosed amount. Condat already sells products in that market and stated that the acquisition will strengthen its position as world leader in the supply of wire drawing soap lubricants.
The deal gives Condat several new brand names – Steelskin, Galvasmooth, Stearlube and Steagel – to supplement its existing Vicafil brand. The company, which is based in Chasse-sur-Rhone, France, near Lyon, said it also acquired production equipment and a Pellets technology that makes soaps without generating dust.
Henkels wire drawing lubes business has an annual turnover of 10 million (U.S. $13.8 million), Condat said.
Condat, which is privately owned, also supplies a wide range of other lubricants, as well as powders, gels and other chemical products. Henkel is a chemical giant based in Dusseldorf, Germany.