Quaker Chemical Corp. and Houghton International have combined to create Quaker Houghton.
Quaker Chemical Corp., Conshohocken, Pa. and Houghton International, Valley Forge, Pa. have combined to create Quaker Houghton. Both companies are well-known for providing a wide variety of process fluids to the primary metals and metalworking industries and specialty hydraulic fluids. Quaker Chemical was founded in 1918 and Houghton in 1865.
The new company reports annual revenue of $1.6 billion, with more than 4,000 employees. Along with the new name, the company revealed a new logo and brand representing the combined companies.
Michael F. Barry, chairman, chief executive officer, and president of the new company says the company expects to achieve significant cost reductions as a result of the combination. In addition to cost synergies, the company expects that revenue-based synergies, such as cross-selling, to be an important contributor to future growth. The legacy product portfolios of both Quaker and Houghton can now be offered to the combined, complementary customer base, where 14,000 of the 15,000 total customers are unique to one company or the other. Barry offered, “We estimate that Quaker Houghton’s revenue of $1.6 billion represents less than 20% market share in a more than $10 billion addressable market.
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