Quaker Chemical Merges with Houghton

Quaker Chemical Corporation (Conshohocken, PA) and Houghton International Inc. (Valley Forge, PA) combined to create Quaker Houghton (Conshohocken, PA). Along with the new name, the firm revealed a new logo and brand representing the combined companies. They will continue to be listed on the New York Stock Exchange and trade under the “KWR” ticker symbol. The combined $1.6 billion revenue company employs 4,000 associates serving 15,000 customers worldwide. Quaker was founded in 1918 and Houghton in 1865.

“We are rooted in companies commonly acknowledged as authorities in industrial fluids and valued experts in customer processes,” said Michael F. Barry, the chairman, chief executive officer, and president of the new company, who previously served Quaker Chemical in similar capacities. “Our similar cultures and values, combined with the talent and resources we bring, create exciting opportunities to deliver innovative solutions that will help our customers’ operations run even more efficiently and effectively.”

The newly combined breadth of product and service offerings can be found in end-markets such as aerospace, aluminum, automotive, machinery, can manufacturing, industrial parts manufacturing, mining, offshore, steel, and tube and pipe industries. With expanded products and services portfolio, the company expects that cross-selling opportunities will facilitate continued above-market growth. Specific products the company offers include metal cutting and forming fluids, corrosion protection fluids, specialty hydraulic fluids, and steel and aluminum rolling oils. In addition, legacy-Houghton customers will benefit from Quaker’s strength in specialty greases, high-pressure die casting, mining specialties, surface treatment and bio-based lubricants, while legacy-Quaker customers will now have access to Houghton heat treatment quenchants, offshore hydraulic fluids, metal finishing products, and a broader metal removal fluids portfolio.

“Our foundation will be the same customer-intimate operating model that has been key to the success of our customers,” noted Barry. “Moving forward together, we will draw upon our rich history and shared expertise to enhance our product and service offerings and continue to deliver value-added service expertise to our customers.” In addition to Barry, the company’s management includes existing leaders from both legacy companies. The newly-formed executive leadership team is comprised of:

Business Leaders

• Joseph A. Berquist, SVP, Global Specialty Businesses & Chief Strategy Officer
• Jeewat Bijlani, SVP, Managing Director – Americas
• Dieter Laininger, SVP, Managing Director – APAC
• Adrian Steeples, SVP, Managing Director – EMEA

Global Functional Leaders

• Mary Dean Hall, SVP, Chief Financial Officer & Treasurer
• Kym Johnson, SVP, Global Human Resources, CHRO
• Wilbert Platzer, SVP, Global Operations, EHS & Procurement
• Dr. Dave Slinkman, SVP, Chief Technology Officer
• Robert T. Traub, SVP, General Counsel & Corporate Secretary

An 11-member board of directors consists of the eight directors from Quaker and three directors nominated by the Hinduja Group. The three new independent directors are the following former board members of Houghton:

• Sanjay Hinduja
• Ramaswami Seshasayee
• Michael J. Shannon

www.quakerhoughton.com