Shell Will Buy Two Fluids Brands From M&I Materials to Boost Power, Renewables Portfolio
October 10 2023 - 7:06AM
Dow Jones News
By Christian Moess Laursen
Shell said its lubricants business has agreed to acquire two
units from specialist-materials maker M&I Materials to
strengthen its product portfolio for the power and renewables
sectors.
The British energy giant said Tuesday that it has signed an
agreement to purchase transformer-fluid brand Midel and
dielectric-immersion-fluids brand Mivolt from Manchester,
U.K.-based M&I Materials.
"The addition of the Midel and Mivolt premium product ranges to
our portfolio acknowledges the growing ester fluid market and will
help Shell Lubricants meet customer needs in the renewables and
power sectors," Executive Vice President for Global Lubricants
Jason Wong said.
For the purpose of the deal, M&I Materials will carve out
the two business lines into M&I Materials Development, which
Shell will acquire in full.
The deal is expected to be completed in the fourth quarter.
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
October 10, 2023 06:51 ET (10:51 GMT)
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