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

News Release

Quaker Chemical Corporation Announces the Acquisition of Partner's Interest in Its China Joint Venture and the Construction of a New Plant in China

CONSHOHOCKEN, Pa., Nov. 9 /PRNewswire-FirstCall/ -- Quaker Chemical Corporation (NYSE: KWR) today announced that it has acquired the 40% equity interest of its Chinese joint venture partner. The acquisition was made as part of the Company's Asian expansion strategy. The terms of the transaction were not disclosed. This joint venture was formed in 1995 to produce and market the Company's products in China. The Company expects the transaction to be immediately accretive to earnings.

The Company also announced that it will expand its manufacturing and research and development presence, and consolidate its regional headquarters into a new facility in Qingpu, Shanghai, which should be fully operational early next year. The new integrated facility will allow the Company to expand the range of locally produced products, enable better utilization of local raw material sources, and allow for greater functional integration to more flexibly and quickly serve its customers. This facility will also enable further expansion of the Company's research and development capabilities to support growth both in Asia and around the globe.

Ronald J. Naples, Chairman and Chief Executive Officer, commented, "This joint venture has been a great success in a strategic and emerging market, profitable from day one. We have had a committed partner, but now by acquiring our partner's interest, we will be able to fully integrate the joint venture's manufacturing and commercial operations into our overall Chinese organization in full alignment with our global strategies. This transaction is directly connected to our strategic goal of becoming a single worldwide company delivering everywhere the best from anywhere."

    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

SOURCE  Quaker Chemical Corporation
    -0-                           11/09/2006
    /CONTACT:  Neal E. Murphy, Vice President and Chief Financial Officer,
Quaker Chemical Corporation, +1-610-832-4189/
    /Web Site: /

CO:  Quaker Chemical Corporation
ST:  Pennsylvania, China

-- PH00745 --
4545 11/09/2006 13:41 EST