WINNIPEG, MANITOBA, CANADA — Richardson International Ltd. on Aug. 10 announced the purchase of Control Chemical Corp., a specialized manufacturer of environmentally safe drilling fluids and proprietary vegetable oil-based lubricants.
Prior to the 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 Corp. “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 network of distribution partners in North America, South America, Australia, Africa, Southeast 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, Richardson International. “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.
Richardson International Ltd., Canada’s largest agribusiness, 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.
Earlier this month, Richardson Oilseed Holdings Ltd., a subsidiary of Richardson International Ltd., announced the acquisition of Italgrani USA Inc., a durum miller.