Si Group sells industrial resins to Ask Chemicals

SI Group announced an agreement to sell most of its global industrial resin business and its Brazilian specialty business to ASK Chemicals.
the deal includes SI Group's industrial resin products and related production sites in Rio Claro, Brazil; Ranjangaon, India; johannesburg and Durban, South Africa; and global licensing technologies and multiple fee agreements. Headquartered in Hilden, Germany, ASK Chemicals is active in the field of foundry materials, producing adhesives, coatings, feeders, filters and release agents, as well as metallurgical products, including probiotics, inoculation lines and cast iron master alloys

. The deal is expected to close later this year.
Focus on high-performance additives
"While the industrial resin business has long been part of the SI Group, the decision to sell this part of the business provides us with an opportunity to reshape our portfolio," said David Bradley, President and CEO of SI Group. The business provides ASK with the know-how and know-how of its industrial resin business, while recalcuiting our focus on performance additives. The
SI Group will conduct operations in these four locations, including the production of global rubber and adhesive and oilfield products and foundry products in Brazil, and will enter into a fee agreement with ASK.