KUALA LUMPUR, Malaysia—Petronas Chemicals Group has acquired Dutch specialty chemicals company Da Vinci Group, a holding company of BRB International B.V.
Based in Ittervoort, Netherlands, Da Vinci's operations involve own-brand reselling, formulating and manufacturing of silicones, lube oil additives and chemicals, Petronas said in a Sept. 12 statement.
Operated under BRB Silicones, Da Vinci's silicones includes the production of specialty silicones such as emulsions, antifoams, water repellants, elastomers, lubricants, silanes, resins and silicone polyethers.
BRB Silicones also supplies a broad range of core and specialty intermediates to the entire silicone industry, according to the company website.
Valued at around $182 million, the deal will mark Petronas' foray into specialty chemicals via inorganic growth.
The acquisition, said Datuk Sazali Hamzah, Petronas managing director and CEO, is in line with the Malaysian company's vision to create value by diversifying its product portfolio.
With "compelling access into the growing silicones business," Da Vinci will enable PCG to enhance its position in attractive end-markets such as personal care, construction, electronics, automotive and healthcare, he added.