Richardson Acquires Control Chemical Corporation, a Manufacturer of Vegetable Oil-Based Drilling Fluids
WINNIPEG, MB, Aug. 10, 2021 /CNW/ - Richardson International Limited is pleased to announce the successful purchase of Control Chemical Corporation, a specialized manufacturer of environmentally safe drilling fluids and proprietary vegetable oil-based lubricants. Prior to this acquisition, Richardson was a minority shareholder in the company and has supplied raw ingredients for their products for over 30 years.
"This partnership will be beneficial to both companies, as historically speaking, Richardson is our largest supplier of crude canola oil," said John MacPhail (retiring Principal, Control Chemical Corporation). "With petroleum oil prices increasing, we are in a unique position to reach new and more expansive markets for environmentally safe downhole, torque-reducing lubricants."
Control Chemical manufactures all drilling fluids – some of which are proprietary and marketed under the Matex brand name – from its 50,000-square foot facility in Calgary, Alberta. The company has a strong foundation and network of distribution partners in North America, South America, Australia, Africa, South East Asia, Mongolia, Scandinavia, the United Kingdom, Turkey, and Russia.
"As a global leader in agriculture and processing, this is a unique opportunity to diversify our business and expand into innovative products derived from the core commodities we handle," said Darrell Sobkow (Senior Vice-President, Processing, Food, and Ingredients). "Control Chemical has a strong reputation and its Matex brand is recognized for superior performance. Our companies are well-aligned and positioned for future growth."
Richardson's oilseed crush plant in Lethbridge, Alberta will continue to supply crude canola oil stock for Control Chemical products. With a plant oil composition capable of withstanding high temperatures, canola oil-based lubricants are environmentally safe and are recognized for extending tool lifespan, optimizing production processes, and improving drilling core recovery and pathway stabilization.
About Richardson International
Richardson International Limited is Canada's largest agribusiness and is recognized as a global leader in agriculture and food processing. Based in Winnipeg, Manitoba, the company is a worldwide handler and merchandiser of all major Canadian-grown grains and oilseeds and a vertically-integrated processor and manufacturer of oats and canola-based products. Over the past two decades, Richardson has become a significant player in the global food business, producing a wide variety of food products and ingredients for the retail, food service, and industrial markets. One of Canada's Best Managed Companies, Richardson continues to grow, thanks to the dedication and innovative spirit of over 3,100 employees worldwide.
About Control Chemical
Control Chemical Corporation (1989) is a manufacturer of high-performance drilling fluid systems and proprietary vegetable oil lubricants – under the Matex brand name – for over 25 years. Globally distributed and highly efficient, Matex products include downhole lubricants, specialty polymers, foams, tool lubricants, blast hole stabilizers, thread compounds, and non-alcohol freeze control fluids. These products are commonly used in diamond drilling, horizontal directional drilling and rotary and percussive drilling operations.
SOURCE Richardson International Ltd.
Kelcey Vossen, Communications and Public Relations, [email protected], P: +1 204 934 4118, M: +1 204 880 9384
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