ASK Chemicals acquiring industrial resin business from SI Group
AFS Corporate Member ASK Chemicals has entered into a definitive agreement to purchase the industrial resin business from SI Group in New York. Aimed at reinforcing ASK Chemical’s position in the foundry market while strengthening its non-foundry business, the transaction also includes associated manufacturing sites in Rio Claro (Brazil), Ranjangaon (India), and Johannesburg (South Africa), as well as licensed technology and multiple tolling agreements globally. The deal is expected to close later this year.
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. It will comprise the rubber and adhesives business, oilfields and surfactants, as well as foundry products in Brazil, and will operate tolling agreements with ASK Chemicals.