Clariant, a world leader in speciality chemicals, has strengthened its North American oilfield production chemicals business with the acquisition of Kel-Tech Inc and X-Chem LLC.
It says that after closing, the agreed purchases will add around $200 million of sales, as well as personnel, technology and expertise to the group's existing activities in North America and accelerate the growth of its oil & mining services business unit as a leading provider of oilfield production chemicals in North America.
Clariant will leverage the new companies' brand and innovation to better meet market needs and expand market presence.
The effective closing date of both acquisitions is 1 October and they are financed from cash at hand. All parties involved have agreed to not disclose any further financial terms.