Sweden’s Höganäs AB has announced that on June 1, 2015, it will acquire 100% of the lubricants manufacturer Abril Industrial Waxes Ltd, based in Wales, UK. Höganäs acquired 19% of Abril in 2010 and is using its option to acquire the remaining shares in the company.
“This is a strategic acquisition as it allows Höganäs to enhance its expertise in lubricants and further develop its offering of sophisticated metal powder mixes,” stated Melker Jernberg, Höganäs’ President and CEO.
Höganäs stated it plans additional investment in the company to further develop Abril’s business, namely waxes and lubricants for industrial purposes and consumer goods. Production will remain in Pyle, Wales.
“With Höganäs’ long-standing industrial experience, Abril’s products and ability to develop new materials and formulas will be in safe hands,” stated Bernard Cooke, owner and CEO. “We look forward to being a part of the Höganäs Group.”
Abril Industrial Waxes Ltd was founded in 1945 and today the company employs around 20 people.
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