Lubrizol Buy's Nalco Personal Care Unit

Specialty chemical maker Lubrizol is paying $166 million for rival Nalco's personal care business, which makes ingredients for hair, skin and home care products, the companies said on Wednesday.

Lubrizol said the deal will add to earnings this year. Nalco's unit brought in $45 million in sales in 2010.

Nalco said it was selling the business to focus on its core industrial water, energy and air applications business.