Manali Petrochemicals completed the acquisition of Penn Globe for $25m.

Manali Petrochemicals, an integrated manufacturer of polyols, completed the acquisition of Penn Globe, a provider of foam control agents and similar chemical products, for $25m. "The addition of Penn Globe Limited is an important step in the execution of our growth strategy. It gives us access to world-class products, technology, and a talented team as a strategic advantage. It is in line with our inorganic expansion vision that fosters a global focus, customerfirst mindset, and culture of innovation. It will help the Company increase its share in the high-demand premium customer segments that command better pricing opportunities. At MPL, we are committed to investing in future-ready technologies and innovation driven solutions," Ashwin Muthiah, MPL Chairman.