PR92750

HILDEN, Germany, November 1, 2021 /PRNewswire=KYODO JBN/ --

ASK Chemicals Group has completed the acquisition of the industrial resins

business from SI Group (New York, USA). With this transaction, ASK Chemicals

Group, headquartered in Hilden near Düsseldorf (Germany), is strengthening its

position as a global supplier of high-performance industrial resins.

ASK Chemicals has purchased SI Group's industrial resins business and

associated manufacturing sites in Rio Claro (Brazil), Ranjangaon (India) and

Johannesburg (South Africa), as well as licensed technology and concluded

multiple tolling agreements worldwide.

With this acquisition ASK Chemicals is reinforcing its position in the foundry

market and at the same time taking a first and substantial step in building a

phenolic industrial resins business, an attractive market with promising growth

opportunities.

The foundry related business will be integrated into ASK Chemicals' foundry

division, which is one of the world's largest and most innovative suppliers of

foundry chemicals and consumables. In Brazil, the acquisition does not include

any foundry business.

The remainder, and largest part of the business being acquired, serves a wide

range of attractive and growing markets and applications such as friction,

abrasives, refractory, paper impregnation, insulation and composites.

Both SI Group and ASK Chemicals Group are committed to ensuring that the

transition of the business will be seamless. Customers can continue to expect

the usual product and service quality in the future.

"We are very pleased to join forces in the field of high-performance resins and

to enter into new markets for ASK Chemicals Group", said Frank Coenen, Chief

Execuive Officer of ASK Chemicals Group. "We are impressed by the competences

of our new colleagues.  They will strengthen even more the company's talent

base."

ABOUT ASK CHEMICALS:

ASK Chemicals Group, headquartered in Hilden near Düsseldorf (Germany), is a

global supplier of high-performance industrial resins and materials. The

company's products are mainly used in foundries and in the production of

abrasives, refractories, impregnation, coatings, insulation and composite

materials.

The Foundry division offers an exceptionally wide and innovative range of

foundry consumables including binders, coatings, risers, filters, release

agents as well as metallurgical products such as inoculants, inoculation wires

and master alloys for iron casting.

The Industrial Resins division is a leader in the field of specialty phenolic

resins. Our phenolic resins are the preferred choice when it comes to meeting

the highest requirements in the areas of fire protection, energy consumption,

service lifetime, health and safety at work.

The company has a production and sales network in 22 countries and employs

approximately 2000 people worldwide. ASK Chemicals Group sees itself as a

driving force of industry-specific innovations with research centers and

laboratories in Europe, Asia, America and Africa.

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Contact:

Verena Sander

Head of Global Communications

ASK Chemicals GmbH

Reisholzstr. 16-18

40721 Hilden, Germany

Phone: +49 211 71103-948

Mobile: +49 151 4612 1604

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SOURCE: ASK Chemicals Group