Argus acquires DeWitt, expands into petrochemical reporting

News provided by

Jul 15, 2012, 01:00 ET

HOUSTON, July 15, 2012 /PRNewswire/ -- 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.

For further information:

Seana Lanigan in London
+44 771 891 8736
[email protected]

Jason Feer in Houston
+1 713 429 6349
[email protected]

About Argus Media
Argus Media is a leading provider of price assessments, business intelligence, market data, consultancy and conferences on the global crude, oil products, natural gas, electricity, coal, emissions, bioenergy, fertilizer and transportation industries. Argus energy and fertilizer prices are widely used by leading companies, governments and international agencies as benchmarks in supply contracts, risk management and planning.

Argus is headquartered in London and has more than 400 staff in offices in Houston, Washington, New York, Portland, Calgary, Santiago, Bogota, Rio de Janeiro, Singapore, Beijing, Tokyo, Sydney, Dubai, Moscow, Astana, Kiev, Porto, Brussels, Johannesburg and other key centres of the energy industry. Argus was founded in 1970 and is a privately held UK-registered company.

About DeWitt
DeWitt is a leading provider of petrochemical market intelligence, pricing data and consulting services and is based in Houston, Texas. DeWitt's coverage includes aromatics, olefins, butadiene, methanol, MTBE, hydrocarbon resins and other petrochemicals. As well as spot price information, De Witt provides historical data, market feasibility studies, project development and new venture planning advice and analysis as well as forecasting services. DeWitt was founded in 1973 and is a US-registered company. Learn more at http://www.dewittworld.com

SOURCE Argus Media