25 November, 2025 16:53:34 IST 
Sterling Specialty Chemicals, a part of the Mumbai-based Praana Group, has agreed to acquire a portion of US oilfield services provider Halliburton’s Multi-Chem business.
The Multi-Chem business provides services and high-performance speciality chemicals across completion, production, midstream, and downstream applications, with capabilities spanning stimulation chemicals, production chemicals, and advanced water-treatment formulations. The business operates five chemical facilities across the US and the Middle East - including the Desert Rose plant in Jubail, Saudi Arabia - as well as ten US field locations and key sites such as Geismar, Bayport, Sonora, and the Houston R&D centre.
“These assets significantly enhance Sterling’s manufacturing, R&D, and service capabilities, enabling us to accelerate our growth beyond traditional oil and gas markets,” the company said in a press note.
Mr. Vishal Goenka, Vice Chairman of Praana Group, commented, “This pending acquisition is perfectly aligned with Praana’s strategy to build a world-class industrial platform rooted in advanced technology and strong manufacturing capabilities. Multi-Chem’s people, expertise, and assets will significantly strengthen Sterling’s global specialty chemicals platform, expanding our geographic reach and enhancing our ability to deliver innovative, high-value solutions across energy, water, and high-growth industrial sectors.”
Established in 1956, Praana has a global portfolio of manufacturing facilities spanning speciality chemicals - Sterling Specialty Chemicals, Galata Chemicals, Artek Surfin Chemicals - and glass reinforcements & composite materials under 3B Fibreglass.
In February 2024, Praana’s subsidiary, Artek US, acquired the energy-related division from Kemira, which was then merged into Sterling Specialty Chemicals. In February 2025, Praana took over Owens Corning’s glass reinforcements business for about $755-mn.
