EXHIBIT 21 SUBSIDIARIES AND AFFILIATES OF THE REGISTRANT Percentage of voting securities Jurisdiction of owned directly or Name Incorporation indirectly by Quaker ---- ------------- -------------------- *Quaker Chemical Europe B.V. Holland 100% *Quaker Chemical B.V. Holland 100% *Quaker Chemical, S.p.A. Italy 100% +*Quaker Chemical Holdings UK United Kingdom 100% Limited *Quaker Chemical Limited United Kingdom 100% *Quaker Chemical S.A. France 100% **Quaker Chemical South Republic of 50% Africa (Pty.) Limited South Africa *Quaker Chemical, S.A. Spain 100% *Quaker Chemical, S.A. Argentina 100% *Quaker Chemical Industria e Brazil 100% Comercio Ltda. *Celumi Lubrificantes Industriais Brazil 90% Ltda. **Kelko Quaker Chemical, S.A. Venezuela 50% *Quaker Chemical Limited Hong Kong 100% *Wuxi Quaker Chemical China 60% Company Limited +*Quaker Chemical South East Singapore 100% Asia Pte. Ltd. **Nippon Quaker Chemical, Ltd. Japan 50% *Quaker Chemical (Australasia) State of New South 51% Pty. Limited Wales, Australia **TecniQuimia Mexicana Mexico 40% S.A. de C.V. +*SB Decking, Inc. (formerly Delaware, U.S.A. 100% Selby, Battersby & Co.) *Quaker Chemical Corporation Delaware, U.S.A. 100% +Quaker Chemical Management, Delaware, U.S.A. 100% Inc. *AC Products, Inc. California, U.S.A. 100% **Fluid Recycling Services Michigan, U.S.A. 50% Company - ------------------ + A non-operating company. * Included in the consolidated financial statements. ** Accounted for in the consolidated financial statements under the equity method.