-- Dorf Ketal Chemicals India Private Limited, a leading specialty chemical company announced that it has acquired Johnson Matthey's VERTEC TM Specialty Catalysts Business through its subsidiary Dorf Ketal Chemicals AG. The transaction is conditional upon regulatory clearance and is expected to be completed by 30th September 2010.. As a part of the agreement, Dorf Ketal acquires the business, trademarks, Intellectual Property and product know-how. Terms of the agreement are confidential and not being disclosed.
In December 2009, Dorf Ketal acquired DuPont's TYZOR® Specialty Catalyst business, and is the global leader in titanate and zirconate catalysts. The combined company will have the industry's most comprehensive product portfolio serving a broad spectrum of applications in industries as diverse as Oil & Gas production, Paints & Coatings, Printing Inks, Industrial Sealants, Corrosion Protection & Emission Reduction.
Ernst & Young India, which has successfully advised Dorf Ketal on its earlier acquisitions during last few years, acted as the exclusive Financial Advisor on this deal.
To facilitate an orderly customer transition, Johnson Matthey will provide transition services including customer service, and sales and technical support on behalf of Dorf Ketal until the end of September. Johnson Matthey will also continue to manufacture the VERTEC range of products on behalf of Dorf Ketal through March of 2011 under a supply agreement.
Commenting on the acquisition, Mr. Sudhir Menon, Chairman and Managing Director, Dorf Ketal said, "We look forward to welcoming Vertec customers to Dorf Ketal. Through this acquisition we continue to execute on our plans to assure that our customers will have the technology, quality, and assurance of supply they require to manage their business on a sustainable basis. Johnson Matthey and Dorf Ketal share many of the same customers, and which should result in a smooth transition period.
Subodh Menon, Founder Director of Dorf Ketal commented, "This acquisition is another in a series that continues our commitment to rapid growth, and builds upon our expertise in organic based specialty chemical applications. Dorf Ketal is making significant investments to support the catalyst business. Beginning next year, our customers will be served by a new, world class manufacturing facility currently under construction in Mundra, India. The plant at Mundra would be the largest capacity plant in the world for manufacturing specialty catalysts."
About Dorf Ketal: Dorf Ketal, headquartered in Mumbai, is a global player in process chemicals, and additives for refineries, petrochemicals, fuels, plastics, lubricants and oilfield industries. In less than 15 years, Dorf Ketal has emerged as the largest Indian additives manufacturer of process chemicals and additives in the niche product segment of hydrocarbons used in refineries, petrochemical plants, plastics additives and lube additives. Dorf Ketal is one of the most rapidly growing global specialty chemical companies in recent times. In recent years, Dorf Ketal has successfully acquired and integrated five businesses including UOP's Refining Chemicals and Plastics Additives business in 2001 and 2003 respectively, ExxonMobil's component lubricant additive business in 2007, Intec Polymers and Dupont Organometallic Titanates in 2009 into their product offerings.
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