The global market for ECLs is expected to grow significantly over the coming years. Following completion of the transaction, Shell will manufacture, distribute and market the PANOLIN portfolio of ECL products alongside its established Shell Naturelle branded products. The acquisition will strengthen Shell's presence in the mining, construction, agriculture, renewable power, hydropower and offshore wind sectors. Shell expects to fully integrate the business into its global lubricants business within two years after completion, aligning with Shell's Powering Progress strategy to accelerate the transition to a net-zero emissions energy business by 2050. 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.