ASK Chemicals, one of the world’s leading suppliers of foundry chemicals, announces that they have entered into a definitive agreement to purchase the industrial resin business from SI Group (New York, USA).
With this acquisition, ASK Chemicals is reinforcing its position in the foundry market and at the same time strengthening its non-foundry business.
ASK Chemicals and SI Group have agreed on the purchase of SI Group’s industrial resin business and associated manufacturing sites in Rio Claro (Brazil), Ranjangaon (India) and Johannesburg (South Africa), as well as licensed technology and multiple tolling agreements globally. The transaction is expected to close later this year.
SI Group will carve out the rubber and adhesives business, oilfields and surfactants, as well as foundry products in Brazil, and will operate tolling agreements with ASK Chemicals.
SI Group’s industrial resin business serves a wide range of markets and applications such as foundry, friction, abrasives, refractory, paper impregnation, insulation and composites.