ASK Chemicals to acquire industrial resin business from SI Group
Hilden, July 10, 2019: ASK Chemicals, one of the world’s leading suppliers of foundrychemicals, today announces that they have entered into a definitive agreement topurchase the industrial resin business from SI Group (New York, USA). With thisacquisition, ASK Chemicals is reinforcing its position in the foundry market and at thesame time strengthening its non-foundry business.
ASK Chemicals and SI Group have agreed on the purchase of SI Group’s industrial resinsbusiness and associated manufacturing sites in Rio Claro (Brazil), Ranjangaon (India),Johannesburg and Durban (South Africa), as well as licensed technology and multiple tollingagreements globally. The transaction is expected to close later this year.
SI Group’s industrial resin business serves a wide range of markets and applications such asfoundry, friction, abrasives, refractory, paper impregnation, insulation and composites.
“This acquisition is an important step in our growth strategy. It substantially reinforces ourposition in the foundry business and helps us to accelerate our penetration in certain growthcountries.” states Frank Coenen, Chief Executive Officer of ASK Chemicals. “At the same time,it allows us to take a first step in building a phenolic industrial resins business, an attractivemarket with promising growth opportunities.”
About ASK Chemicals
ASK Chemicals is one of the world's largest suppliers of foundry chemicals and auxiliaries. Itscomprehensive product and service portfolio ranges from binders, coatings, feeders, filtersand release agents to metallurgical products such as inoculants, magnesium treatment wires,inoculation wires and master alloys for iron casting. Core production, prototype developmentand a wide array of simulation services complete the range.
With research and development locations in Europe, America and Asia, ASK Chemicals seesitself as a driving force behind foundry technology innovations coupled with the commitmentto consistently provide added value to its customers. Flexibility and speed, quality andsustainability, as well as profitability of products and services are crucial for the company.
ASK Chemicals GmbH
Global Marketing Communications Manager
Reisholzstraße 16 – 18
Tel.: +49 211 71103-0
Fax: +49 211 71103-70
Source: ASK Chemicals
- China’s steel output hits new record high in August
- NBS: China’s Jan-Aug pig iron output up 3.4% on year
- 15 Largest Pig Iron Producing Countries in the World
- Croatian Experts to Work on Aluminium Components for BMW
- Iron ore price rockets to highest since January 2014
- US met coal supplies, exports face sharp drop in 2020: investment bank
- Market strong on demand in China, resumed sales to Italy
- Europe steel mills face new high for iron ore costs relative to coking coal
- See all News