Dorf Ketal acquires Intec; eyes overseas buys

Specialty chemicals maker Dorf Ketal Chemicals today said it has acquired Sanmar Specialty Chemicals-owned Intec for an undisclosed sum and is looking at overseas buys to divesify its offering base.

Intec is one of the world leaders in the business of organic titanates, poly vinyl formal and poly isocyanates.

"This acquisition is an excellent strategic fit for our organisation and is a well-thought-out plan to cater to newer product segments such as specialty catalysts," Dorf Ketal Global Business and Operations Director Subodh Menon told PTI here today.

Since there is a confidentiality clause, "I will not be able to disclose the acquisition amount", Menon said.

Dorf Ketal, which clocked Rs 700 crore from its India operations in FY09 said that "this acquisition increases the offering from secondary and specialty amines and resins to organic titanates and poly vinyl formals".

"Given the R&D focus at Intec, it is likely to bring in great synergy to our on-going programs and we will exploit this very aggressively," Menon said.

Dorf Ketal is also eyeing global acquisitions and hopes to seal two deals in the next 2-3 months, Menon said.

"We are eyeing a company in the US and Europe and the two deals could together total around $60-70 million," he said.

The two acquisitions, once finalised, will enable us to diversify our product portfolio further, he said.