Sterling Auxiliaries and its parent company, Artek Surfin Chemicals, a producer of specialty chemicals, are set to acquire the land and assets associated with Baker Hughes’ Sand Springs, Oklahoma, chemicals manufacturing facility. Sterling Auxiliaries is a leading manufacturer of surfactants, ethanol amines, antioxidants, esters, and specialty chemicals.
The Sand Springs facility, which includes approximately 120 employees who will transfer with the sale to Sterling, manufactures oilfield specialty chemicals. As part of the transaction, Baker Hughes will enter into a long-term toll manufacturing agreement with Sterling at the Sand Springs manufacturing site. The new Sand Springs entity will be called Sterling Specialty Chemicals. The transaction is expected to close by September 30, 2020, according to a media statement by Artek Surfin Chemicals.
“The purchase of Baker Hughes’ Sand Springs chemicals manufacturing assets is another key step in our global vision and growth strategy as we continue to pursue additional strategic acquisitions such as this. Sterling and Baker Hughes have worked together globally for nearly ten years. This transaction is a testament of our deep relationship, and we look forward to continue this partnership in the years ahead,” Vishal Goenka, director at Artek Surfin Chemicals said.