SOUTHBURY, Conn. — September 24, 2020 — Sterling Auxiliaries Pvt. Ltd. and its parent company, Artek Surfin Chemicals Ltd., a leading producer of specialty chemicals with manufacturing capabilities across four continents, have agreed to acquire the land and assets associated with Baker Hughes’ Sand Springs, Oklahoma, chemicals manufacturing facility.
The Sand Springs facility, which includes approximately 120 employees who will transfer with the sale to Sterling, manufactures oilfield specialty chemicals. As part of the transaction, Baker Hughes will enter into a long-term toll manufacturing agreement with Sterling at the Sand Springs manufacturing site. The new Sand Springs entity will be called Sterling Specialty Chemicals LLC.
“The purchase of Baker Hughes’ Sand Springs chemicals manufacturing assets is another key step in our global vision and growth strategy as we continue to pursue additional strategic acquisitions such as this,” said Vishal Goenka, director, Artek Surfin Chemicals Ltd., parent company of U.S.-based Galata Chemicals and India-based Sterling Auxiliaries. “Sterling and Baker Hughes have worked together globally for nearly 10 years. This transaction is a testament of our deep relationship, and we look forward to continue this partnership in the years ahead.”
The transaction is expected to close by September 30, 2020.
Posted September 24, 2020
Source: Artek Surfin Chemicals Ltd.