Petronas Chemicals buys Da Vinci

PETRONAS Chemicals (PCG) has agreed to buy Dutch specialty chemicals firm Da Vinci Group for a reported €163m (US$182m).

Da Vinci’s chemicals products include silicones and lube-oil additives. PCG said the purchase is its first in the specialty chemicals sector.

“The acquisition accelerates the realisation of PCG’s vision to create value by diversifying its product portfolio into differentiated and specialty chemicals,” said company CEO Sazali Hamzah.

“Da Vinci provides a compelling access into the growing silicones business. The acquisition enables PCG to enhance its competitive position in attractive end-markets such as personal care, construction, paints and coatings, electronics, automotive and healthcare, particularly in the Asia Pacific region.”