Mumbai: Houghton International Inc., a subsidiary of Hinduja Group-owned Gulf Oil International Ltd, has acquired Wallover Enterprises, an Ohio-headquartered lubricant maker, for an undisclosed amount.
The acquisition marks Houghton’s latest strategic investment in the speciality metalworking and industrial fluids segment, thus enabling it to serve North American manufacturers.
Houghton International is into delivering advanced metalworking fluids and services for the automotive, aerospace, metals, mining, machinery, offshore and beverage industries.
“This acquisition enables Houghton to expand and improve its metalworking solutions capability for its customers,” said Houghton chief executive officer Mike Shannon.
Wallover produces and sells a diverse portfolio of fluid products to industrial end markets throughout the US and Canada and provides technical and applications expertise in electrical discharge machining (EDM) fluids and stainless steel cold rolling oils.
The company’s speciality fluid products, sales teams, and technology resources will complement and expand Houghton’s advanced fluid solutions for its customers in North America, Houghton said in a statement on Friday.
Source: Mint