CARL BECHEM GMBH PURCHASES ETNA-BECHEM LUBRICANTS, LTD.

Hagen, Germany-based, Carl Bechern GmbH has completed acquisition of the company's joint venture partner's 50 percent interest in Chagrin Falls, Ohio-based, Etna-Bechem Lubricants, LLC. The acquisition includes the formation of a new company, Bechern Lubrication Technology, LLC.

Etna Products, Inc., the joint venture partner, will continue to operate and serve its customers as an independent privately held company.

"This investment falls directly into our corporate strategic objectives. Our focus over the last years was to establish successful Carl Bechern companies in China and India while strengthening our technical sales and service reach into those local markets," says Hans-Otto Franz, managing director of Carl Bechern GmbH. "Establishing Bechern Lubrication Technology in the U.S. is in alignment with our goal to insure Carl Bechern has established wholly owned entities in all the major engineering centers in the world."

In addition, STLE-member John C. Steigerwald has been appointed president of BECHEM Lubrication Technology, LLC. With over 35 years of experience in the global specialty lubricant market, John previously served as president of Etna-Bechem Lubricants, Ltd., from the inception of the joint venture with Etna Products, Inc., in 1999.