Dorf Ketal acquires local peer Filtra Catalysts & Chemicals

Dorf Ketal acquires local peer Filtra Catalysts & Chemicals

4:29 AM, 5th January 2016
Dorf Ketal acquires local peer Filtra Catalysts & Chemicals

MUMBAI, INDIA: Dorf Ketal India Pvt Ltd, Indian speciality chemicals major said that it has acquired a local peer Filtra Catalysts & Chemicals Ltd in undisclosed amount.

Filtra is a leading producer of adsorbents and catalysts for downstream hydrocarbon industries such as oil refineries, petrochemicals and fertilizer plants.

In addition, Filtra also specializes in coatings for electrical steel besides manufacturing a range of specialty chemicals for various industries. The business has a strong export base and annualized revenue in the range of $10 - $15 Million. Filtra employs close to 200 professionals with a fully functional R&D facility, 2 manufacturing plants, both in Maharashtra.

"The acquisition will help Dorf Ketal to expand earnings through increased share of catalyst and specialty process chemical spends in the refining and petrochemical markets," said Sudhir Menon, chairman and managing director of Dorf Ketal. "It will further provide us an opportunity in the Fertilizer markets and the electrical steel coatings segment will also enhance further company's product range offering," he added.

According to TN Venkatesan, CMD of Filtra, the synergy between Filtra and Dorf Ketal will enable two technology companies to deliver best solutions to world markets in changing global scenario by joining hands. Both the companies are involved in niche areas of manufacturing of specialty chemicals for petroleum, fertilizer plants and the plastic industry.

Dorf Ketal is a global player in $300 million speciality chemical industry of process chemicals and additives for refineries, petrochemicals, fuels, plastics, lubricants and oilfield industries. The over two-decade old company has portfolio of about 300 global patents related to process chemical business.

Filtra's acquisition is seen as a strategic fit to increase its offering to the current customer base. Dorf Ketal, in the past has successfully acquired and integrated a catalyst business based on Organic Titanates successfully. Dorf Ketal plans to combine Filtra's adsorbents and catalyst products with their current product offering and will increase Filtra's geographic footprint to Asia Pacific, China, Europe, and the Americas through its established marketing network. The combination will offer the industry new options for increased competition and innovation.

"We believe that M&A interest in the specialty chemicals sector is on a steady rise," said Preet Mohan Singh, executive director & head industrials group at Avendus capital. Avendus was the buy side advisor in the transaction. "The transaction is creating big synergies between Dorf Ketal's global reach and Filtra's comprehensive range of products in their chosen segments," he added.

© Economic Times



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