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Quaker Chemical and Houghton International to Combine Quaker Chemical Corp. and Houghton International Inc., providers of process fluids and chemical specialties to the metalwork- ing industry, announced that they have a definitive agreement to combine the companies. Sanjay Hinduja, chairman of Houghton International, which is owned by the Hin- duja Group through its Gulf Oil business, says, "We are pleased to enter this agree- ment to unite these two distinguished and global companies. Together, we will strengthen our capabilities and business models to better serve the global market and all our stakeholders." Under the terms of the agreement, Houghton International shareholders will receive $172.5 million in cash and 24.5 percent ownership of the combined com- pany, representing approximately 4.3 mil- lion shares of newly issued Quaker Chemi- cal stock. In addition, Quaker Chemical will assume Houghton International's debt and cash, with net debt of approximately $690 million at the end of 2016. The agreement has been approved by both Quaker Chemi- cal's board of directors and Houghton's board of directors with full support of the Hinduja Group, which will become Quaker Chemical's largest shareholder. :: Houghton Intl. 610-666-4000, houghtonintl.com :: Quaker Chemical Corp. 800-523-7010, quakerchem.com :: WorldSkills Abu Dhabi Names Exclusive CAM Partner Mastercam, a partner of WorldSkills, is the named official supplier to the four machin- ing competitions at WorldSkills 2017: CNC Turning, CNC Milling, Plastic Die Engineer- ing and the Manufacturing Team Challenge. The Manufacturing Challenge requires the teams to use Mastercam to produce parts on turning and milling machines that may be assembled together to produce a workable product. WorldSkills Abu Dhabi 2017 is the year's largest international skills competition with young people from across the globe com- peting to be the best of the best in their chosen skill. The competition takes place at the Abu Dhabi National Exhibition Centre, Abu Dhabi, India, from October 14-19. CNC Software is active in this com- petition at a grassroots level, helping the contestants around the world with software to prepare for the event. :: Mastercam/CNC Software Inc. 800-228-2877, mastercam.com 888–THINBIT 888–THINFAX MADE IN THE USA SINCE 1964 THINBIT.COM Put our 50+ years of design experience to work for you. EXpErTS IN FACE GrOOVING INSErTS FOrM TOOlS TOOlHOlDErS CUSTOM TOOlING NEED AN EXTErNAl FACE GrOOVING TOOl? WE CAN DO THAT! ® KAISEr TOOl COMpANy, INC. Fort Wayne, Indiana Shipment from 72 hours Scan this QR code to see THINBIT ® in action. http://thinbit.com/fgrep Major diameters starting at .300" in grades and coatings for ferrous, non-ferrous, plastics and composite materials. THINBIT ® offers over 500,000 standard solutions to solve your toughest challenges. NEWS 14 PRODUCTION MACHINING :: JUNE 2017