Kuala Lumpur - Petronas Chemicals Group (PCG) has acquired Dutch speciality chemicals company Da Vinci Group, holding company of BRB International BV.
Based in Ittervoort, The Netherlands, Da Vinci’s operations involve own-brand reselling, formulating and manufacturing of silicones, lube oil additives and chemicals, Petronas announced 12 Sept.
Run under BRB Silicones, Da Vinci's silicones operations include the production of specialty silicones like emulsions, antifoams, water repellants, elastomers, lubricants, silanes, resins and silicone polyethers.
BRB Silicones also supplies a broad range of core and speciality intermediates to the entire silicone industry, according to the company website.
Valued at MYR761 million (€165 million), the deal will mark Petronas’ foray into speciality chemicals via inorganic growth.
The acquisition, said Petronas managing director and CEO Datuk Sazali Hamzah, 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.