India's Gulf Oil to buy Houghton International for $1.05 billion

Gulf Oil Corporation (Hyderabad, India) has agreed to buy specialty chemical manufacturer Houghton International (Valley Forge, PA) from private equity firm AEA Investors (New York) for $1.05 billion, the company says. Houghton recoreded $858 million in sales and $132 million in Ebitda for the 12 months ended 30 September, Gulf says.   Gulf, a lubricants and industrial explosives maker, is controlled by the Hinduja Group (Hyderabad, India), a conglomerate run by the billionaire Hinduja brothers. Houghton makes lubricants, oils, and other specialty chemicals...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers