Print Page  Print Page | E-mail Alerts  E-mail Alerts | IR Contacts  IR Contact
<< Back

News Release


Quaker Chemical Announces Gain On Real Estate Transaction

CONSHOHOCKEN, Pa., Feb 17, 2005 /PRNewswire-FirstCall via COMTEX/ -- Quaker Chemical Corporation (NYSE: KWR) today announced that Quaker Park Associates, a real estate development joint venture of which Quaker owns 50%, has sold its real estate assets. The venture was established in 2001 to develop Quaker's Conshohocken manufacturing site into an office park, part of which serves as Quaker's worldwide headquarters. Quaker's share of the proceeds from this real estate transaction, after payment of partnership obligations, is estimated at $4.2 million.

Ronald J. Naples, Chairman and Chief Executive Officer commented, "This has been a great investment for us. With our development partners, we recycled assets idled since we closed our production facilities here a few years ago into a great place for Quaker's people to work at a very favorable occupancy cost for the Company. We've profited from the returns generated over the past couple of years and now, with the sale, have realized the value of what we helped build to invest in the business we will continue to build."

Quaker Chemical Corporation, headquartered in Conshohocken, Pennsylvania, is a worldwide developer, producer, and marketer of custom-formulated chemical specialty products and a provider of chemical management services for manufacturers around the globe, primarily in the steel and automotive industries.

This release contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected in such statements.

SOURCE Quaker Chemical Corporation

Neal E. Murphy, Vice President and Chief Financial Officer, Quaker Chemical
Corporation, +1-610-832-4189
http://www.prnewswire.com