Dorf Ketal Chemicals engaged in bids for US-based Multi-Chem

Multi-Chem of US specializes in oilfield based chemical products and makes strategic sense for Dorf Ketal which has a global presence and wants to expand it’s market share in the oilfield chemical space.

| Updated: Aug 04, 2011, 04.46 PM IST

India based Dorf Ketal Chemicals is eyeing US based Multi-Chem for an acquisition, sources with direct knowledge said. Dorf Ketal is engaged in the intense bid process for Multi-Chem, sources said the first few rounds of bids saw valuations going over $500 million.

The final binding bids are expected to be submitted within thirty days in which Dorf Ketal may participate.

Multi-Chem of US specializes in oilfield based chemical products and makes strategic sense for Dorf Ketal which has a global presence and wants to expand it’s market share in the oilfield chemical space. The India based unlisted company has a turnover of $450 million and has been aggressive on acquisitions.

Sources said, the bid process for Multi-Chem is extremely aggressive with large global players also participating in the bids. Dorf Ketal Chemicals management declined to comment when contacted.

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