Monday, October 6, 2008

Afton Chemical Purchases GE's Fuel Additives Business

Afton ChemicalOn Tuesday, Afton Chemical Corp. which is a subsidiary company of NewMarket Corp. announced the acquisition of GE's North American Fuel Additives Business which was belong to GE Water & Process Technologies.

Afton is a supplyer of gasoline and diesel performance additives. The company did not disclose the financial terms of the transaction. But the company said the acquisition will expand its supply of diesel fuel.

As a part of the transaction, GE's current salers for product line will become employees of Afton.

Originally Posted: China Business Daily
Author: Angulo Fu