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ASK Chemicals to acquire industrial resin business from SI Group

Issued at 2019-07-10



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.

Contact

ASK Chemicals GmbH
Verena Sander
Global Marketing Communications Manager
Reisholzstraße 16 – 18
40721 Hilden
Germany
Tel.: +49 211 71103-0
Fax: +49 211 71103-70
www.ask-chemicals.com


Source: ASK Chemicals



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