04 June 2012 14:27 [Source: ICIS news]
LONDON (ICIS)--Germany’s Brenntag has signed an agreement to acquire Italy’s specialty fuel and oil additives distributor Petrolube, the chemicals distributor said on Monday.
Brenntag said the acquisition of the Milan-based company will further strengthen its distribution of specialty additives for the fuel and oil sector.
Chief Operating Officer for Brenntag's European business Karsten Beckmann said: "We are delighted with the successful acquisition of Petrolube and the significant contribution it will bring to our existing lubricants and additives business in Italy".
Financial details of the acquisition were not disclosed.
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