Petronas Chemicals Group Berhad (PCG) has entered into a Sale and Purchase Agreement on May 16th, 2019 to acquire 100% of Da Vinci Group BV, holding company of BRB International BV (BRB).
The acquisition is PCG’s first step into specialty chemicals via inorganic growth. PCG has recently announced its next chapter of growth focusing on future strategic positioning venturing into derivatives and specialty chemicals.
“The acquisition is a strategic entry point for PCG’s specialties chemicals portfolio.” Said PCG Managing Director and Chief Executive Officer Datuk Sazali Hamzah, “It accelerates the realization of PCG’s vision to create value by diversifying its product portfolio into differentiated and specialty chemicals.”
“BRB provides a compelling access into growing silicones business. The acquisition enables PCG to enhance its competitive position in attractive end-markets such as personal care, construction, paints & coatings, electronics, automotive and healthcare, particularly in the Asia Pacific region.” he added.
Ralph Pinckaers, Chief Executive Officer of BRB, said, “This is an exciting opportunity in the further development of BRB to achieve its goals of becoming a global supplier in silicones. We wanted to ensure that our services and product solutions will remain available.”
Upon completion of the Sales and Purchase Agreement, BRB International BV will become a wholly-owned subsidiary of PCG.