Swiss speciality chemicals maker Clariant AG is in advanced talks to acquire Mumbai-based chemical manufacturer Galaxy Surfactants Ltd, two people aware of the development said. Galaxy supplies a wide range of speciality chemicals including surfactants (compounds that go into detergents, wetting and foaming agents, and emulsifiers), preservatives and coating additives. Established in 1980 as Galaxy Chemicals, it has presence in Latin America, Europe, North America, Africa and the Middle East. Mails and text messages sent on Tuesday to Unnathan Shekhar, managing director and chief executive officer of Galaxy Surfactants, did not elicit any response. In 2011, Galaxy Surfactants withdrew an initial public offering (IPO) a day before its close due to poor response from high net-worth individuals and retail investors.

Source: Mint January 11, 2017 21:15 UTC