Hextar Global, a Malaysian agrochemical company, is acquiring Propel Chemicals (PCSB) for $3.5 million from Propel Global, Rancak Nikmat and Wiramas Baiduri, mainly in order to expand its speciality chemicals portfolio for oil and gas applications. The deal should be completed in Q4.
Petronas Chemicals (PCG) has acquired PCC’s 50% stake in its Malaysian unit, PCC Oxyalkylates Malaysia. CEO Datuk Sazali Hamzah called this “another milestone for PCG in our quest to develop the group’s specialty chemicals business segment”.
PCG and German-based surfactants producer PCC are already planning an oxyalkylates facility at the Kerteh integrated petrochemical complex in Terengganu (pictured above), plus a joint R&D centre. This is due to begin construction in 2021 and enter production in 2023.