Quaker Chemical Corp. said it had bought a 40 percent equity interest in its Chinese joint venture partner for an undisclosed amount. The acquisition of Wuxi Gao Ren Jie Chemical Co. was part of the company's strategy to expand into Asia.

The partnership was originally formed in 1995 to produce and market Quaker's products in China. The company expects the transaction to be immediately accretive to earnings.

The Conshohocken, Pa., company also announced that it will expand its manufacturing and research and development, and consolidate its regional headquarters into a new facility in Qingpu, Shanghai, which should be fully operational early next year.

Source:佚名