Petronas forays into specialty chemicals; buys Da Vinci

Da Vinci Group BV is a private-limited liability company, incorporated in the Netherlands with a global operations involving own-brand reselling, formulating and manufacturing of silicones, lube oil additives and chemicals.

The acquisition is PCG’s first foray into specialty chemicals via inorganic growth. PCG had recently announced its next chapter of growth focusing on future strategic positioning venturing into derivatives and specialty chemicals.

“The acquisition is a strategic entry point for PCG’s specialty chemicals portfolio. The acquisition accelerates the realisation of PCG’s vision to create value by diversifying its product portfolio into differentiated and specialty chemicals,” said PCG chief executive officer Sazali Hamzah.

Upon completion, Da Vinci will become a wholly-owned subsidiary of PCG. (RKS)

ALCHEMPro News Desk – India