Quaker Acquires Remaining Interest in Mexican Affiliate; Pas $10.5M Cash for 60% Interest
Quaker Chemical Corporation (NYSE: KWR) announced today that it has acquired the remaining ownership interest in its Mexican affiliate, TecniQuimia Mexicana, S.A. de C.V. Cash consideration of $10.5 million was paid for the 60% interest not previously owned by Quaker, with an additional $2.0 million payable in July 2012, subject to certain conditions. Quaker had been a joint venture partner in TecniQuimia Mexicana for more than 40 years.
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