Quaker Chemical Corporation and Global Houghton Ltd., In the Matter of

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In the Matter of Quaker Chemical Corporation, a corporation; Global Houghton Ltd., a corporation; Gulf Houghton Lubricants Ltd., a corporation; and AMAS Holding Spf, a private asset management company.
FTC Matter/File Number:

1710125

Docket Number:

C-4681

Enforcement Type:

Part 2 Consents

Case Summary

Chemical companies Quaker Chemical Corp and Houghton International Inc. have agreed to divest assets to a subsidiary of French multinational corporation Total S.A., to settle Federal Trade Commission charges that Quaker’s proposed $1.4 billion acquisition of Houghton would violate federal antitrust law. According to the complaint, the proposed acquisition would harm competition in the North American market for aluminum hot rolling oil and associated technical support services; and in the North American market for steel cold rolling oils, and associated technical support services. Steel cold rolling oils include sheet cold rolling oil, pickle oil, and tin plate rolling oil. Under the proposed settlement agreement, Quaker must divest Houghton’s North American aluminum hot rolling oil and steel cold rolling oil product lines and related assets to Total.