M&As: Aster Chemicals acquires Chevron Phillips’s Singapore ops; Azelis acquires distribution business of India’s Amit Group

Singapore-based Aster Chemicals and Energy is acquiring Chevron Phillips Singapore Chemicals (CPSC) through its Indonesian affiliate Chandra Asri Capital. Terms of the deal were not disclosed.

CPSC operates HDPE manufacturing facility on Jurong Island with capacity of 400,000 tonnes/year.

"This acquisition represents a key achievement for Aster, supporting our strategic goals with new capabilities and strengthening our offerings to customers," the CEO of Aster Chemicals and Energy Erwin Ciputra, said.

The approximately 150 employees of Chevron Phillips Singapore Chemicals are expected to have the opportunity to join Aster, Chevron Phillips Chemical said in its statement.

The transaction remains subject to customary closing conditions.

Last month, Aster Chemicals and Energy, a joint venture between Chandra Asri and Glencore, completed its purchase of Shell's Singapore refinery and refining assets.

In other news, speciality chemicals firm Azelis says it has signed an agreement to acquire 100% of the distribution business of S. Amit Group, a Mumbai-based distributor of performance chemicals for the pharmaceutical, agricultural and CASE markets in India. Terms were not disclosed.

In addition to a widened distribution channel, principals will benefit from Azelis’s ability to leverage its expanded product portfolio to create more formulations and develop new applications for their products

The acquisition strengthens Azelis’s market share in India and is in line with the group’s strategy of reinforcing its position as the industry reference in its focus end markets, it adds.

Established in 1948, S. Amit Group has developed longstanding relationships with customers and principals in fine and performance chemicals over six decades. Its expertise and offerings across industries, including raw materials for active pharmaceutical ingredients and agroactives, complement Azelis’s lateral value chain in the domestic market.

With 16 dedicated employees, the S. Amit Group team serves over 300 customers across the country. Combining their dynamic sales approach and logistics expertise with Azelis’s innovative capabilities will strengthen Azelis's footprint in India.

This acquisition is consistent with Azelis’s strategy of playing an active role in industry consolidation, and the product portfolio expansion in the pharma, agri and CASE markets is another demonstration of the group’s commitment to continuously reinforcing its position as the industry reference in its focus end markets.

The transaction is expected to close in the second quarter of 2025 after the fulfilment of customary closing conditions.

SUBSCRIBE to Get the Latest Updates from PRA    Click Here»