Coast Southwest announced the acquisition of substantially all of the assets of the Paso Robles, CA, surfactant manufacturing facility from The Lubrizol Corp. (Cleveland, Ohio). Currently, the plant manufactures surfactants used in a wide range of personal care and industrial products.
“This surfactant business is virtually in our DNA,” said Joseph C. Cimo, President of Coast Southwest. “I have had over a 30-year affiliation with this site under its present ownership and before that with prior owner Chemron Corporation. Acquiring Paso Robles is extremely complementary to our business strategy of geographic and functional expansion. We believe that Coast Southwest offers the best prospects for the long-term viability of the site, its employees, and for the region economically.”
This acquisition follows the official opening of Coast Southwest’s new state-of-the-art corporate headquarters in Irving, TX, earlier this month.
“In a single month, we have completed the two most significant events in Coast Southwest’s 38-year history,” Mr. Cimo said. “Our third-generation business has grown from a regional chemical distributor with West Coast roots to a multi-location North American powerhouse. Our 105,660-square-foot headquarters becomes the center point of Coast Southwest’s strategy. The Paso Robles assets will allow Coast Southwest to improve its value chain position and assert its competitiveness in the marketplace.”
The terms of the Paso Robles, CA, acquisition are confidential and were not disclosed.
···