Argus acquires DeWitt, expands into petrochemical reporting

Global energy and commodity price reporting agency Argus Media Inc today announced the acquisition of DeWitt & Company Inc (DeWitt), a provider of market assessments and business intelligence to the petrochemical industries.

DeWitt provides valuable and unique intelligence on the global petrochemicals markets. DeWitt's reports cover global trade and pricing for aromatics, olefins, butadiene, methanol, MTBE, hydrocarbon resins and other petrochemicals. Founded in 1973, DeWitt publishes nearly 200 price references, which are widely used for benchmark pricing and analytical purposes. DeWitt also performs bespoke consulting services and publishes multi-client studies.

Argus Media chairman and chief executive Adrian Binks said: "We are delighted to welcome DeWitt to Argus. DeWitt is a well known and respected brand within the petrochemicals sector and is a natural complement to Argus' existing strength in crude oil, refined petroleum products and LPG. DeWitt has an excellent reputation for providing intelligent insight and detailed analysis to its impressive range of customers. We look forward to working with DeWitt to develop our combined product offering further."

DeWitt senior vice president Edgar Acosta said: "We are very pleased to be joining Argus and benefiting from Argus' international reach and wide product range. We will be able to offer enhanced services to our customers and we will be developing new products together to meet the needs of our combined customer base."

Terms of the acquisition were not disclosed.

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