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CONSHOHOCKEN, Pa. - Quaker Chemical Corp. said Tuesday it plans to shift its North American steel, cleaner, and hydraulic fluid production from Detroit to its Middletown, Ohio, plant as it seeks to lower costs while raw materials prices climb.
| KWR | 11.2 |  0.13 |
The $19.8 million project will be partially funded with $10 million in industrial development revenue bonds from the Butler County Port Authority and a $3.5 million loan from the Ohio Department of Development and equipment leases, as well as internal sources.
The Detroit facility will still house the chemical company's metalworking fluids production capabilities.
Quaker said the production shift will allow it to meet customer demand better as well as lower capital spending at its Detroit plant.
The project is expected to be completed late next year and will make the Ohio plant Quaker's second largest.
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