US Lubrizol buys Nalco performance products unit for $166m

26 January 2011 22:23  [Source: ICIS news]

HOUSTON (ICIS)--Nalco sold its performance products group to US lubricant additives firm Lubrizol for $166m (€121m), the US-based company said on Wednesday.

The Nalco performance products group includes specialty ingredients used as raw materials in the personal care, cosmetics and household care industries, it said.

Nalco said it sold certain assets to Lubrizol as part of the transaction, excluding any supply-chain related assets.

Nalco would also to continue to supply certain products to Lubrizol related to the personal care business, it said.

"Our personal care business is more product oriented than service oriented and not a strategic fit with our emphasis on providing sustainability services for industrial water, energy and air applications," said Nalco CEO Erik Fyrwald.

“Lubrizol is a well-respected industry leader with a strong commitment to the personal care industry, which is more of an advantage for that business,” he added.

($1 = 0.73)

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By: Ben DuBose
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