The wholly-owned subsidiaries of Shell plc, Shell U.K., Pennzoil-Quaker State Company and Shell Aviation Sweden AB, have entered into agreements to acquire the environmentally /acceptable lubricants (ECLs or EALs) business of the Panolin Group.
The transaction includes the Panolin brand, EAL product formulations, intellectual property, technical expertise and technology, international customer base and portfolio of products – for hydraulics, gears, universal tractor transmission oils, biodegradable engine oils (HDEO), turbine oils, chainsaw oils and greases for machine lubrication, including leading OEM-approved products.
Following completion of the transaction, Shell will manufacture, distribute and market the Panolin portfolio of EAL products alongside its established Shell Naturelle branded products.
All Panolin staff who currently support the ECL business in Switzerland, the UK, US and Sweden are expected to join Shell.
Panolin’s conventional and food grade lubricants businesses in Switzerland and Liechtenstein and the production facilities in /Switzerland will remain with the Lämmle family.
Tim Lämmle, currently CEO of Panolin International, who will transfer to Shell and assume the post of General Manager ECL to drive the business forward, said: “Shell will be a great custodian of the Panolin brand, with its financial strength, global distribution network and customer base, which will take the ECL business to the next level.”
The deal is expected to be completed by early 2023.
