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SI Group Sells Resins Business to ASK Chemicals

Friday, August 20, 2021

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Late last month, performance additives company SI Group (Schenectady, New York) announced plans to complete an agreement to sell most of its global Industrial Resins business to ASK Chemicals (Hilden, Germany).

ASK is a portfolio company of private equity firm, Rhône Group, LLC, and is a market leader in the foundry materials sector and manufactures binders, coatings, feeders, filters, and release agents, as well as metallurgical products including inoculants, inoculation wires and master alloys for iron casting.

SI Group

Late last month, performance additives company SI Group (Schenectady, New York) announced plans to complete an agreement to sell most of its global Industrial Resins business to ASK Chemicals (Hilden, Germany).

“We remain confident this is the right strategic move for our employees and our business. ASK Chemicals has proven industry expertise that will add significant value and continuously enhance these businesses,” said David Bradley, President & CEO of SI Group. “The deal also allows us to focus more intentionally on building and growing our portfolio as a performance additives powerhouse.”

According to SI Group, the transaction will include the company’s Industrial Resins products and associated manufacturing sites in Rio Claro, Brazil; Ranjangaon, India; and Johannesburg, South Africa, as well as licensed technology and multiple tolling agreements globally.

SI Group will carve out related businesses at these sites, including the manufacture of Rubber & Adhesives, Oilfield, and Surfactants, as well as Foundry products in Brazil, and will operate tolling agreements with ASK.

The company will also retain the Industrial Resins businesses in the U.S. and China.

Financial details of the transaction were not disclosed.

   

Tagged categories: Acquisitions; ASK Chemicals; Business management; Business matters; Business operations; EU; NA; Program/Project Management; Resins; SI Group

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