Infineum has confirmed the sale of its PARATAC brand and associated business to Functional Products Inc.
Based in Macedonia, Ohio, Functional Products Inc. formulates, blends and manufactures lubricant additives to improve the performance of oil, grease and bio-based fluids operating under various conditions.
Philippe Creteur, President of Infineum USA L.P, commented: We were impressed by the strong reputation of Functional Products Inc. in the market and knew that we had found a strong sale partner well-suited to maintain the quality and reliability attributes for which the Infineum PARATAC brand is best known.
We thank Functional Products Inc. for their support in recent weeks to ensure a smooth transition of the business in order to maintain client expectation and delivery.
David DeVore, President of Functional Products also commented: We are thrilled to have the Paratac and Paratac XT brands as part of our tackifier portfolio. Paratac is a well recognized and accepted brand. Our customers know that Functional is committed to tackifiers with an assured, ongoing supply as well as technical support for innovation.
The sale figure will not be disclosed by either party.