Shell to Acquire PANOLIN's ECL Business

Supermajor Shell anounced its subsidiaries in Switzerland, the UK, US and Sweden have entered into agreements to acquire the environmentally considerate lubricants (ECLs) business of the PANOLIN Group.

The transaction includes the PANOLIN brand, ECL 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.

The deal is expected to be completed by early 2023, subject to regulatory clearance and certain closing conditions. Following completion of the transaction, Shell will manufacture, distribute and market the PANOLIN portfolio of ECL products alongside its established Shell Naturelle branded products.

Shell expects to fully integrate the business into its global lubricants business within two years after completion, the company said. All PANOLIN staff who currently support the ECL business in Switzerland, the UK, US and Sweden are expected to join Shell.

Machteld de Haan, Global Executive Vice President of Shell Lubricants, said, “We are entering into this strategic acquisition to grow our presence in the global industrial lubricants market, through differentiated, value-added propositions for our customers. Once completed, the acquisition will enable us to complement our existing range of sustainable products in response to increasing customer demand.”