ASK Chemicals Group completes acquisition of the industrial resin business from SI Group
Hilden, October 31, 2021: ASK Chemicals Group has completed the acquisition ofthe industrial resins business from SI Group (New York, USA). With this transaction,ASK Chemicals Group, headquartered in Hilden near Düsseldorf (Germany), is strengthening its position as a global supplier of high-performance industrial resins.
ASK Chemicals has purchased SI Group’s industrial resins business and associatedmanufacturing sites in Rio Claro (Brazil), Ranjangaon (India) and Johannesburg (SouthAfrica), as well as licensed technology and concluded multiple tolling agreements worldwide.
With this acquisition ASK Chemicals is reinforcing its position in the foundry market andat the same time taking a first and substantial step in building a phenolic industrial resins business, an attractive market with promising growth opportunities.
The foundry related business will be integrated into ASK Chemicals’ foundry division, which is one of the world’s largest and most innovative suppliers of foundry chemical sand consumables. In Brazil, the acquisition does not include any foundry business.
The remainder, and largest part of the business being acquired, serves a wide range of attractive and growing markets and applications such as friction, abrasives, refractory, paper impregnation, insulation and composites.Both SI Group and ASK Chemicals Group are committed to ensuring that the transition of the business will be seamless. Customers can continue to expect the usual product and service quality in the future.
“We are very pleased to join forces in the field of high-performance resins and to enter into new markets for ASK Chemicals Group”, said Frank Coenen, Chief Execuive Officer of ASK Chemicals Group. “We are impressed by the competences of our new colleagues. They will strengthen even more the company’s talent base.”
Source: ASK Chemicals
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