Malaysia’s
Petronas Chemicals Group Berhad (PCG) has completed the acquisition of
Da Vinci Group B.V. (Da Vinci), widely known as BRB, after fulfilling
the conditions required in the share purchase agreement to complete the
acquisition of 100% of the shares in Da Vinci.
With
the completion of the acquisition, Da Vinci has become PCG’s
wholly-owned subsidiary with immediate effect. This acquisition marks
PCG’s first foray into specialty chemicals.
Da
Vinci Group B.V. is a private limited liability company, incorporated
in the Netherlands with global operations involving own-brand reselling,
formulating and manufacturing of silicones, lube oil additives and
chemicals.
Commenting
on the acquisition, PCG Managing Director/CEO, Datuk Sazali Hamzah
said: “I am pleased that we have completed the acquisition of Da Vinci.
It provides a compelling entry point for PCG to grow into silicones
business and 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.”
“Venturing
into specialty chemicals beyond existing assets allows us to diversify
our product portfolio and future-proof our business”, he concluded.
PCG is an integrated chemicals producer in Malaysia and one of the largest in Southeast Asia. It operates a number of world-class production sites, which are fully vertically integrated from feedstock to downstream end-products. With a total combined production capacity of 12.8 million tonnes/year, it is involved primarily in manufacturing, marketing and selling a diversified range of chemical products, including olefins, polymers, fertilisers, methanol and other basic chemicals and derivative products. Listed on Bursa Malaysia and with three decades of experience in the chemicals industry, PCG is established as part of the Petronas Group to maximise value from Malaysia’s natural gas resources.