India's specialty chemicals company Dorf Ketal Chemicals has acquired the global specialty catalysts business of DuPont Chemicals and Flouroproducts for around $40 million, reveals the Economic Times.
The Times says that the acquired unit, a profit-making entity, had revenues of $50 million during 2008.
“The latest acquisition is to consolidate our position in newer product segments such as specialty catalysts,” Sudhir Menon, CMD, Dorf Ketal Chemicals, told the Times. He reveals there are more similar strategic acquisitions, in the range of $100-200 million, that the company expects to strike in the current year. The deals are to be financed through internal accruals of Dorf Ketal.
The Times notes the acquisition is the second by Dorf Ketal in less than a year. In May 2009, it had acquired Intec Polymers from Chennai-based Sanmar Speciality Chemicals to expand its operation in organic titanates. With the latest deal, Dorf Ketal has become the world’s largest player in the organo-metallic titanates space.