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Halliburton has struck a deal to buy Multi-Chem Group

September 07/2011

(Arabian oil and gas) -- Halliburton has struck a deal to buy Multi-Chem Group, North America's fourth-largest production chemicals company, in a deal set to plug a gap in its oil and gas extraction services offering. Halliburton Chief Executive David Lesar says there is more demand for oilfield services companies to provide a broader range of services in-house, something the acquisition of Multi-Chem - for an undisclosed sum - will help achieve.

Multi-Chem has 900 customers worldwide and about 750 employees, and there are no plans for redundancies in the combination, according to a company statement from Multi-Chem, which is the fourth-largest production chemicals company.

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