Quaker Chemical and Houghton International Receive Final Approval to Combine
CONSHOHOCKEN, Pa., July 24, 2019 /PRNewswire/ -- Quaker Chemical Corporation (NYSE: KWR) and Houghton International announced today that on Tuesday, July 23, 2019, they received approval from the United States Federal Trade Commission for their combination. This was the final approval required. The approval is subject to the divestiture of certain product lines comprising approximately three percent of combined company revenue which is consistent with previous guidance. The divestiture will occur concurrent with the close of the combination which is expected to be on Thursday, August 1, 2019.
Quaker Chemical plans to file its second quarter earnings release and information on the combination after market close on Thursday, August 1, 2019. Quaker Chemical has scheduled an investor call beginning at 7:30 am Eastern time on Friday, August 2nd to discuss its second quarter performance and the closing of the combination. The call can be accessed in the following ways:
Earnings Release and
Combination Close:
August 1, 2019 (after market close)
Visit Quaker's website at www.quakerchem.com
Teleconference:
August 2, 2019, 7:30 a.m. (ET)
Participate live by phone or listen to live audio webcast through
Quaker's website at www.quakerchem.com
Dial-in Number:
877-269-7756
Please call 5-10 minutes prior to the scheduled start of call. No
password required.
If unable to participate live, select from one of the following replay options:
Digital Replay:
Available through August 8, 2019
Call 877-660-6853 (toll free); Conference ID No. 13692496
Archived Webcast:
Visit Quaker's website at www.quakerchem.com
About Quaker Chemical
Quaker Chemical is a leading global provider of process fluids, chemical specialties, and technical expertise to a wide range of industries, including steel, aluminum, automotive, mining, aerospace, tube and pipe, cans, and others. For 100 years, Quaker Chemical has helped customers around the world achieve production efficiency, improve product quality, and lower costs through a combination of innovative technology, process knowledge, and customized services. Headquartered in Conshohocken, Pennsylvania, USA, Quaker Chemical serves businesses worldwide with a network of dedicated and experienced professionals whose mission is to make a difference.
About Houghton International
Houghton International is a global leader in delivering advanced metalworking fluids and services for the automotive, aerospace, metals, mining, machinery, offshore and beverage industries. Headquartered in Valley Forge, Pennsylvania, USA, Houghton International operates research, manufacturing and office locations in 33 countries around the world delivering solutions that increase productivity, reduce operating costs and improve product quality for customers. Houghton International is a Hinduja Group Company, which has owned more than 95% of Houghton International since 2012.
Investors: Mary Dean Hall, Vice President, Chief Financial Officer and Treasurer, HallM@quakerchem.com, T.+1.610.832.4160; Media: Melissa McClain, Communications Manager, McClainM@quakerchem.com, T. +1.610.832.7809
