Personal care boost as Lubrizol inks Nalco deal
The Ohio-based chemicals firm expects the acquisition to expand the strategic portfolio of its Noveon Consumer Specialties Home and Personal Care product line.
"The joining of our two personal care product lines creates a portfolio of industry-leading technologies that will help make our combined customers more successful through expanded access to innovative ingredients, formulations and applications knowledge," commented Eric Schnur, president of Lubrizol Advanced Materials.
Investing in home and personal care business
"This is another example of how the company continues to invest in our personal and home care business, increasing our product innovation capabilities, our global infrastructure and our talent base," he added.
Nalco, based in Illinois, has its own personal care product portfolio including performance polymers which are sold globally.
Nalco focus on industrial applications
Having seen consistent growth in its personal care sales and earnings over the past eight years, the move to hand over this part of the business follows Nalco’s decision to focus on core industrial applications business.
"Our personal care business is more product oriented than service oriented and not a strategic fit with our emphasis on providing sustainability services for industrial water, energy and air applications," said Nalco CEO J. Erik Fyrwald.
"Lubrizol is a well respected industry leader with a strong commitment to the personal care industry, which is more of an advantage for that business. This sale allows Nalco to more closely concentrate on the industrial and institutional markets that are the core of our business."
The agreement will include all Nalco resources relating to the Performance Products business and it is expected that all Nalco personal care products will be transitioned to Lubrizol over the next six months, although the Nalco personal care brand names will be retained and unified under the Noveon Consumer Specialties product line.
