India approves Quaker's extended specialty tie-up

14 April 2008 17:49  [Source: ICIS news]

NEW DELHI (ICIS news)--India has approved a five-year extension of Quaker Chemicals India Limited's technical collaboration with US parent Quaker Chemical Corp (QCC), a government official said on Monday.

He said that the approval would be valid till 31 August 2012 with retrospective effect from 1 September 2007.

QCIL would continue to pay to Pennsylvania-based QCC royalties at existing rate of 4% of net sales of specialty chemicals and related products under the agreement that was signed originally cleared in March 1997.

QCC produces specialty chemicals, lubricants, rolling oils, hydraulic fluids and other products for applications in steel manufacturing, fluid power and metal working.

QCIL operates a formulations production facility at Pune in Maharastra state and a technical centre at 24 Parganas in West Bengal.

By: Naresh Minocha
+65 6780 4359

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