Released on December 1, 2010

Süd-Chemie AG, Munich, Germany, and Ashland Inc., Covington, Ky., recently completed a previously-announced combination of their worldwide metalcasting chemicals activities.

The two companies, which have a historical alliance in Europe, signed an agreement to establish the joint venture in July. The venture will operate with the name ASK Chemicals GmbH and be based in Hilden, Germany.

Ashland and Süd-Chemie each hold a 50% share in ASK Chemicals. Süd-Chemie will manage the operations. The new venture, with approximately 1,300 regular employees in the Americas, Asia and Europe, comprises Ashland-Südchemie-Kernfest GmbH, a joint venture formed by both partners in 1970 and previously operating solely in Europe, as well as all other assets and employees belonging to Süd-Chemie’s business unit for metalcasting and Ashland’s Casting Solutions business unit.

Süd-Chemie generated sales of $1.45 million in 2009, 85% of which were outside Germany. On Sept. 30, the group employed 6,500 in its 80 sales and production companies worldwide. Ashland Inc. operates in more than 100 countries worldwide.