Gulf Oil buys Houghton for US$1 billion

摘要

INDIA'S GULF OIL CORP., WHICH is part of the Hinduja Group, has acquired U.S.-based specialty chemicals company Houghton International from a private equity fund for US$1.05 billion. Gulf Oil said Houghton's strong presence in the industrial segment would complement its own range of automotive lubricants, expecting synergies in manufacturing, sourcing and distribution.