After acquiring ExxonMobil Chemical’s component additives business for $43 million, Dorf Ketal Chemicals, the specialty chemicals maker, is eyeing for more.
MUMBAI: After acquiring ExxonMobil Chemical’s component additives business for $43 million, Dorf Ketal Chemicals, the specialty chemicals maker, is eyeing for more.
Dorf Ketal Chemicals, a global player in process chemicals and additives for refineries, petrochemicals, fuels, lubricants and oilfield industries, is in talks with three overseas companies in US, Europe and Canada for acquisitions in specialty chemicals space. The combined deal size would be more than $350 million. It expects one acquisition to be sealed by the end of current calendar year.
In 2001, Dorf Ketal acquired US-based UOP’s refining chemicals and plastics additives business.
Dorf Ketal Chemicals India Ltd plans to list in early 2009 to fund expansion plans.
Talking exclusively to DNA Money, Subodh Menon, president & CEO, Dorf Ketal Chemicals India, said “The ExxonMobil Chemical’s component additives business acquisition is just beginning of our bigger plans in the coming years. The company is considering three big overseas deals in next 18 months”.
“The company has plans to get listed in early 2009. We also looking for joint ventures (JVs) for global expansion plans as there are few countries where we need local partners due to cultural differences,” Menon said.
Dorf Ketal Chemicals is planning a Middle East foray this April to exploit the presence of oil and petrochemical related companies and businesses. Dorf is opening offices in Holland and Brazil next week.
The Budget reducedduties on most chemicals were reduced to 7.5 %from 12.5%.
The growth in the index of production for chemicals & chemical products slowed to 9.6% during AprilDecember 2006, from 10.5% rise recorded during the same period in 2005.
ExxonMobil would transfer its sales, marketing and manufacturing ownership to Dorf Ketal from next month.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}