Lubrizol Buys Nalco Unit For $166M

Lubrizol Corp. has acquired the cosmetic and consumer products division of Nalco Holding Co. for $166 million, the companies said Wednesday.

NEW YORK (AP) -- Lubrizol Corp. has acquired the cosmetic and consumer products division of Nalco Holding Co. for $166 million, the companies said Wednesday.

Lubrizol bought the unit, called Nalco Performance Products Group, to expand its consumer portfolio. The division makes ingredients used by cosmetic and consumer goods companies in hair and skin products as well as home care products. It had sales of about $45 million in 2010.

Lubrizol, based in Wickliffe, Ohio, makes chemicals for pharmaceutical companies, fuel additive for gasoline and diesel and other ingredients for the transportation sector.

Nalco said its personal care division was no longer a "strategic fit" with its business. Nalco wants to concentrate on helping industrial and institutional customers reduce their power and natural resource use, improve air quality and other environmental services.

Lubrizol said the acquisition will add to its growth in the first year. The deal closed on Jan. 21.
More in Economics