Quaker Houghton

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Quaker Houghton
Formerly
Quaker Chemical Corporation, Houghton International
Traded asNYSE: KWR
ISIN🆔
IndustryMetals (Steel, Aluminum); Metalworking - Transportation, Aerospace, Industrial; Mining; Offshore; Beverage Cans; Tube & Pipe; Equipment & Services
Founded 📆
Founder 👔
Headquarters 🏙️Conshohocken, Pennsylvania USA
Area served 🗺️
Members
Number of employees
🌐 Websitewww.quakerhoughton.com
📇 Address
📞 telephone

Quaker Houghton, an industrial process fluids manufacturer, is a global company formed after the combination[1] of Quaker Chemical Corporation and Houghton International on August 1, 2019. .[2]

Michael F. Barry is the Chairman and CEO, leading a twelve member board of directors consisting a nine directors from Quaker Chemical and three directors nominated by the Hinduja Group[3] (Houghton’s parent company though the Gulf Oil business).

The global headquarters for Quaker Houghton is in Conshohocken, Pennsylvania.

Products[edit]

Quaker Houghton serves over 15,000 customers in over 115 countries around the world. Its product solutions and service offerings include:

  • Cleaners
  • Corrosion Preventives
  • Die Casting Fluids
  • Drawing & Forming Fluids
  • Fire-Resistant Hydraulic Fluids
  • Forging Fluids
  • Industrial Lubes and Greases
  • Metal Finishing FLuids
  • Neat Cutting Oils
  • Non-ferrous Rolling Oils
  • Quenchants
  • Soluble Metal Removal Fluids
  • Specialty Coatings
  • Steel Rolling Oils
  • Surface Treatment Fluids

Quaker also offers onsite programs designed to meet the customer chemical inventory management and services needs with its QH FLUIDCARE programs.

History[edit]

On April 5, 2017, Quaker Chemical and Houghton International announced that they have executed a definitive agreement to combine companies. Under the terms of the agreement, Houghton International shareholders received $172.5 million of cash and 24.5 percent ownership of the combined company, representing approximately 4.3 million shares of newly issued Quaker Chemical stock.  In addition, Quaker Chemical assumed Houghton International's debt and cash, with net debt of approximately $690 million at year-end 2016.  The agreement was approved by both Quaker Chemical's board of directors and Houghton International's board of directors with full support of the Hinduja Group, which became Quaker Chemical's largest shareholder.[4]

Quaker Chemical had secured $1.15 billion in committed financing from Bank of America Merrill Lynch and Deutsche Bank Securities Inc. to support the transaction, which included $200 million of additional liquidity for future needs.

The company combination was a highly complementary transaction that established one of the world's most expansive metalworking platforms, comprised of specialty products that include removal fluids, forming fluids, protecting fluids, heat treating fluids, industrial lubricants, and greases. The combined resources enabled Quaker Houghton better serve its customers in the automotive, aerospace, heavy equipment, metals, mining, machinery, marine, offshore, and container industries.

As a result of the combination, Quaker Houghton gained 4,000 employees, 35 R&D technology centers, 34 manufacturing facilities, 78 offices, and approximately $1.6 billion in sales.[5]

In October 2019, Quaker Houghton acquired Norman Hay plc, provider of specialty chemicals, operating equipment, and industrial services, for 80 million GBP. Norman Hay serves a number of industries including aerospace, automotive, oil and gas, and power generation through four divisions: Ultraseal, SIFCO ASC, Surface Technology, and Norman Hay Engineering.[6][7]

Corporate Identity[8][edit]

The Quaker Houghton identity represents the coming together of two legacy companies:

  • The company name honors the positive heritage of both companies and conveys the strength of the new combined organization.
  • The logo combines the colors and designs of the two brands. The waves represent the fluid solutions converging together
  • The tagline, “Forward Together” symbolizes the partnership between the employees and between the customers to stay ahead in a changing world

References[edit]

  1. DiStefano, Joseph N. "Quaker Chemical to acquire rival Houghton". https://www.inquirer.com. Retrieved 2020-01-24. External link in |website= (help)
  2. "Quaker Houghton merger creates global market leader | Steel Times International". www.steeltimesint.com. Retrieved 2020-01-24.
  3. Mascarenhas, Rajesh (2019-08-05). "Quaker listing to bring bonanza for Hinduja Group". The Economic Times. Retrieved 2020-01-24.
  4. "Houghton, Quaker Chemical to Merge". www.machinerylubrication.com. Retrieved 2020-01-24.
  5. DiStefano, Joseph N. "Newly-merged Quaker Houghton races to build its oily global business". https://www.inquirer.com. Retrieved 2020-01-24. External link in |website= (help)
  6. "Quaker Houghton to acquire operating divisions of Norman Hay plc". Norman Hay plc. 2019-08-30. Retrieved 2020-01-24.
  7. "Quaker Houghton Buys UK's Norman Hay | chemanager-online.com - Chemistry and Life Science". www.chemanager-online.com. Retrieved 2020-01-24.
  8. "Quaker Houghton Connect — Leaders in Industrial Process Fluids Combine to form Quaker Houghton". Quaker Houghton Connect. Retrieved 2020-01-24.

Updated Quaker Houghton wikipedia page[edit]

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