Shell completes acquisition of Raj Petro Specialities to strengthen its lubricant portfolio
completed the
acquisition
of
Raj Petro Specialities
, strengthening its lubricants portfolio and customer base, the company said on Tuesday.
Without disclosing financial details of the transaction, Shell said it has acquired 100 per cent equity interest in Raj Petro Specialities Pvt Ltd from the
Brenntag Group
.
"The acquisition of Raj Petro Specialities supports Shell Lubricants as it strives to grow its portfolio and customer base in India, which is one of its key growth markets," it said in a statement.
Raj Petro, which has manufacturing facilities at Chennai and Silvassa, offers a wide range of products - from transformer oil to petroleum jellies, white oils, waxes and lubricants. The more than 80-year-old Mumbai-headquartered firm was in 2017-18 acquired by Germany's Brenntag.
"The transaction strengthens Shell Lubricants' presence in the market by supplying customers in the power transmission, personal care and pharmaceutical sectors, as well as helping to realise new synergies and economies of scale across the lubricants value chain," the statement said.
The addition of Raj Petro Specialities will help maximise value for Shell through a complementary product portfolio and increased scale of business, "positioning Shell Lubricants for further growth in line with our unwavering focus on performance, discipline, and simplification," Jason Wong, Shell's Executive Vice President for Global Lubricants, said.
Raj Petro Specialities is a multi-faceted
petrochemical manufacturing
and marketing company with business partners in about 100 countries across the globe. The company offers a complete range of products catering to power and energy, personal care, tyre and rubber, food and pharma, construction and mining, chemicals and petrochemicals, engineering, petroleum and offshore, textiles, steel and metal, transport, including railways, automotive retail, agriculture, metalworking and general engineering industries.
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