CONSHOHOCKEN, Pa. (AP) â¿¿ Quaker Chemical Corp. said Monday that it has purchased metal surface treatment products maker NP Coil Dexter Industries S.r.l. Quaker didn't put a value on the deal, but it said privately held NP Coil Dexter, which is based in Gorgonzola, Italy, had annual revenue of about $11 million. The chemical company said NP Coil Dexter's coil coating and surface treatment products, which prepare metal surfaces prior to painting or other finishing, will enhance Quaker's steel flat rolling business. The deal includes NP Coil Dexter's commercial and technical operations and a leased factory. Shares of Quaker, which is based in Conshohocken, Pa., rose $1.12, or 2.4 percent, to close Monday at $47.33.
Jefferies analysts note that recent construction spending data indicates a cycle rotation away from construction-exposed names and toward industrial- and durable goods-levered firms could be playing out.
Quaker Chemical Corporation (NYSE:KWR) hit a new 52-week high Thursday as it is currently trading at $46.16, above its previous 52-week high of $46.02 with 7,362 shares traded as of 11:19 a.m. ET. Average volume has been 54,400 shares over the past 30 days.