Fineotex Chemical shares jump 6% after US specialty oilfield chemicals acquisition

Fineotex Chemical Ltd’s shares rose over 6% on Friday after the company announced a strategic acquisition of the US-based CrudeChem Technologies Group through its subsidiary. Post announcement, shares of Fineotex Chemical closed at ₹25.45, up 6.17%, after touching an intraday high of ₹26.15 on the NSE.

The acquisition gives Fineotex entry into the US oilfield chemicals space, with CrudeChem bringing advanced fluid-additive technologies, long-standing relationships with major energy producers and a technical

laboratory and facilities across Texas. The company said the move strengthens its position in high-performance and sustainable chemical solutions across oil and gas operations.

Executive Director Sanjay Tibrewala said the deal marks a “defining moment” for the company’s global expansion plans, adding that Fineotex aims to build a $200 million oilfield chemicals business over the coming years.

CrudeChem operates across Midland and Brookshire in Texas and serves an addressable North American market estimated at $11.5 billion for 2025, spanning midstream, refining and water-treatment segments.

Fineotex, which manufactures specialty performance chemicals for sectors including textiles, home care, water treatment and oil and gas, has operations in India and Malaysia and supplies to more than 70 countries.