KUALA LUMPUR, May 17 – Petronas Chemicals Group Bhd (PetChem) is making a trip to specialty chemicals with the purchase of Da Vinci Group BV.
PetChem has agreed to acquire a 100 percent participation of € 163 million (RM760 million) in the group of its shareholders, including funds managed by Bencis Capital Partner
Da Vinci is a private limited liability company based in the Netherlands with worldwide activities related to the resale, formulation and production of silicones, lubricants and chemicals.
Chief Executive Officer and Chief Executive Officer Datuk Sazali Hamzah said the acquisition is a strategic entry point for PetChem & # 39; s portfolio of specialty chemicals.
PetChem recently announced its next chapter of growth, which focuses on future strategic positioning in derivatives and specialty chemicals.
"The acquisition accelerates the realization of PCG's vision to create value by diversifying its product portfolio into differentiated and specialized chemicals," said Sazali.
Sazali said the Petronas Chemicals acquisition has enabled it to increase its competitiveness in attractive end markets, such as personal care, construction, paint & coatings, electronics, automotive and healthcare, particularly in the Asia-Pacific region.