Quaker Houghton is the name of a newly merged industrial process fluids business formed by the joining together of Quaker Chemical Corporation and Houghton International. In addition to having a new name, there's also a new logo and brand representing the combined businesses.
The new business has combined revenues of USD1.6 billion and employs 4,000 people serving 15,000 customers globally.
Both businesses are long-established concerns,with Quaker founded in 1918, and Houghton in 1865.
Quaker Houghton's chairman, CEO and president is Michael F Barry who was previously in a similar position at Quaker Chemical Corporation. Speaking of the new merger, Barry commented: "Our similar cultures and values, combined with the talent and resources we bring to Quaker Houghton, create exciting opportunities to deliver innovative solutions that will help our customers' operations run even more efficiently and effectively."
Barry said that both businesses were 'commonly acknowledged' as authorities in industrial fluids 'and valued experts in customer processes'. The new business, like the old ones, are well known in end markets such as aerospace, steel, machinery, industrial parts manufacturing, mining and the tube and pipe industries, to name just a few.
Barry says that the new company's foundation will be the same customer-intimate operating model that he says has been key to past successes, but there are plans to enhance existing offerings in order to 'deliver value-added service expertise to our customers'.
Barry sees significant growth potential for the new business. "We estimate that Quaker Houghton's revenue of USD1.6billion represents less than 20% market share in a more than ten billion dollar addressable market."