Richardson acquires Control Chemical Corporation
Richardson International Litd. purchased Control Chemical Corporation, a manufacturer of environmentally safe drilling fluids and proprietary vegetable oil-based lubricants.
Prior to this acquisition, Richardson was a minority shareholder in the company and has supplied raw ingredients for their products for over 30 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.”
Control Chemical manufactures all drilling fluids, some of which are proprietary and marketed under the Matex brand name, from its 50,000-square feet facility in Calgary, Alberta.
“As a global leader in agriculture and processing, this is a unique opportunity to diversify our business and expand into innovative products derived from the core commodities we handle,” said Darrell Sobkow, Senior Vice-President, Processing, Food, and Ingredients, Control Chemical. “Control Chemical has a strong reputation and its Matex brand is recognized for superior performance. Our companies are well-aligned and positioned for future growth.”