Canadian agriculture giant Richardson International Limited announced the purchase of Control Chemical Corporation on August 10. At this time, the value of the deal has not been disclosed.
Richardson International is Canada’s largest agribusiness and is recognized as a global leader in agriculture and food processing. With over 3100 employees, the company is a worldwide handler and merchandiser of all major Canadian-grown grains and oilseeds and a processor and manufacturer of oats and canola-based products. Over the past two decades, Richardson has become a significant player in the global food business, producing a wide variety of food products and ingredients for the retail, food service, and industrial markets.
Over the past 25 years, Control Chemical Corporation has been a leading manufacturer of high-performance drilling fluid systems and proprietary vegetable oil lubricants under the name Matex. Globally distributed and highly efficient, Matex products include downhole lubricants, specialty polymers, foams, tool lubricants, blast hole stabilizers, thread compounds, and non-alcohol freeze control fluids. Prior to the purchase, Richardson Internation Limited has owned a minority stake in the company and has supplied raw products for over thirty years.
‘This partnership will be beneficial to both companies, as historically speaking, Richardson is our largest supplier of crude canola oil,’ said John MacPhail (retiring Principal, Control Chemical Corporation). ‘With petroleum oil prices increasing, we are in a unique position to reach new and more expansive markets for environmentally safe downhole, torque-reducing lubricants.’
Learn more about Control Chemical Corporation: www.matexdrillingfluids.ca
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