Calumet Purchases Lubricant Business from Hercules Inc.

Noria news wires

Calumet Specialty Products Partners LP has announced that its subsidiary, Calumet Missouri LLC, has completed the purchase of the aviation and refrigerant lubricants business from Hercules Incorporated, a subsidiary of Ashland Inc. The purchase price was not disclosed. Under the terms of the agreement, Calumet Missouri obtains a 22-acre parcel that includes the manufacturing facility in Louisiana, Mo., which the company plans to continue operating.

"We are very pleased to be in the synthetic lube business and look forward to transitioning Hercules into the Calumet family," said Jennifer Straumins, Calumet president and chief operating officer. "Calumet is focused on the refining of crude oil into specialty petroleum products, and the Hercules acquisition will help to strengthen our business for both customers and shareholders."

An independent producer of high-quality, specialty hydrocarbon products, Calumet processes crude oil and other feedstocks into customized lubricating oils, solvents and waxes used in consumer, industrial and automotive products. Calumet also produces fuel products including gasoline, diesel and jet fuel. Based in Indianapolis, Calumet also has seven facilities located in northwest Louisiana, northwest Wisconsin, western Pennsylvania, southeastern Texas and eastern Missouri.

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