12 March 2013 17:56 [Source: ICIS news]
HOUSTON (ICIS)--Germany-headquartered chemicals distributor Brenntag said on Tuesday it has agreed to acquire the assets of US-based Lubrication Services (LSi).
Headquartered in Oklahoma City, Oklahoma, LSi distributes lubricants and chemicals and serves the oil and gas industry.
“LSi has a market position, expertise and infrastructure that will allow us to further increase our participation in the expected rapid growth related to the shale plays,” said Anthony Gerace, vice president of Brenntag North America.
The investrment amount will be $42m (€32.3m), Brenntag said. The acquisition is subject to closing conditions and is expected to be completed over the next weeks.
($1 = €0.77)
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