The Pilot Chemical Company, headquartered in Cincinnati, Ohio, has announced its purchase of the Liquid Minerals Group, Inc. (LMGI) located in New Waverly, Texas, as of 30 June.
The acquisition expands Pilot's business into the organometallic fuel additives markets, as well as provides further growth opportunities for Pilot’s existing surfactants and antimicrobial businesses. LMGI manufactures products for the oilfield, refinery, power generation, marine industries and serves customers worldwide.
“The acquisition of LMGI greatly enhances the opportunities for growth and allows for further expansion into new technologies and manufacturing capabilities,” said Mike Scott, President of Pilot Chemical.
"We are extremely pleased to become part of a highly regarded organisation like Pilot, with which we have had a long and positive history," said Mark Hughes, CEO of LMGI. “Joining Pilot will lead to future innovation,” added Daniel Smith, President of LMGI.
LMGI will retain its name under Pilot’s leadership. Hughes and Smith will remain as consultants throughout an extended transition to ensure secure and smooth business operations.
Adapted from press release by Francesca Brindle
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/13072016/pilot-chemical-company-acquires-liquid-minerals-group-3696/