India’s Dorf Ketal Takes Clariant’s North American Land Oil Business
Indian specialty chemical company Dorf Ketal has agreed to acquire Clariant’s North American land oil business for an undisclosed sum.
Dorf Ketal said the business, which generated revenues of $113 million in 2021, represents an “exciting growth opportunity”. The purchase includes manufacturing facilities in Bakersfield, California and in Midland and Black Hills, both in Texas, producing more than 2,000 formulations for drilling, production and stimulation, as well as 170 employees and a technology portfolio of more than 40 patent families.
“This acquisition will bring additional strategic assets, innovative new technology, talented people, and strong customer relationships into Dorf Ketal,” said Sudhir Menon, chairman of Dorf Ketal Chemicals India. “Upon completion, it will enable our continued growth in North America – a significant and growing market for energy services, further aligning with our global focus and commitment to providing innovative services throughout the energy sector.”
The transaction is expected to close during the first quarter of 2023, subject to regulatory approvals and customary conditions.
Clariant said the divestment is another “logical step” in repositioning its portfolio toward true specialty chemicals and its sustainability transformation. In August, the Swiss group agreed the sale of its Quats business to Global Amines, a joint venture owned in equal share by Clariant and Singapore’s Wilmar.
Author: Elaine Burridge, Freelance Journalist
