Sanmar Speciality Chemicals Limited (SSCL) has sold its Intec business division to Dorf Ketal, a leading speciality chemicals company headquartered in Mumbai. The deal value is not known.
Intec is a leading manufacturer of organic titanates, poly vinyl formal and poly isocyanates, and has its manufacturing unit in Dadra. The business employs close to 60 professionals with R&D facility and an export base.
Dorf Ketal is in the business of process chemicals, and additives for refineries, petrochemicals, fuels, plastics, lubricants and oilfield industries. Dorf Ketal has subsidiaries in the USA, Brazil, the Netherlands and Representative offices in China and Bahrain. This acquisition will enable Intec leverage the wide network Dorf Ketal Group.
Commenting on the acquisition of Intec, Subodh Menon, Global Business & Operations Director, Dorf Ketal said, “The acquisition of Intec is an excellent strategic fit for our organization and is a well thought plan to cater to newer product segments such as specialty catalysts.
Given the R&D focus at Intec, it is likely to bring in great synergy to our ongoing programs and we will exploit this very aggressively.”
o3 Capital advised the sellers on the transaction.