SI Group Signs Agreement To Sell Industrial Resins Business To ASK Chemicals
PR90831
SCHENECTADY, N.Y., July 24, 2021 /PRNewswire=KYODO JBN/ --
-- Agreement Includes Products, Technology, and Manufacturing Assets in Brazil,
India & South Africa
SI Group, a leading performance additives company, announced today plans to
complete an agreement to sell the majority of its global Industrial Resins
business to ASK Chemicals (
), a portfolio company of private equity firm, Rhone Group, LLC (
).
Logo - https://mma.prnewswire.com/media/95496/si_group__inc__logo.jpg
The transaction includes SI Group's Industrial Resins products and associated
manufacturing sites in Rio Claro, Brazil; Ranjangaon, India; and Johannesburg,
South Africa, as well as licensed technology and multiple tolling agreements
globally. ASK Chemicals, headquartered in Hilden, Germany, is a market leader
in the foundry materials sector and manufactures binders, coatings, feeders,
filters, and release agents, as well as metallurgical products including
inoculants, inoculation wires and master alloys for iron casting.
"We remain confident this is the right strategic move for our employees and our
business. ASK Chemicals has proven industry expertise that will add significant
value and continuously enhance these businesses," said David Bradley, President
& CEO of SI Group. "The deal also allows us to focus more intentionally on
building and growing our portfolio as a performance additives powerhouse."
SI Group will carve out related businesses at these sites, including the
manufacture of Rubber & Adhesives, Oilfield, and Surfactants, as well as
Foundry products in Brazil, and will operate tolling agreements with ASK. The
company will also retain the Industrial Resins businesses in the U.S. and China.
About SI Group
SI Group is a global leader in the innovative technology of performance
additives, process solutions, active pharmaceutical ingredients, and chemical
intermediates. SI Group solutions are essential to enhancing the quality and
performance of countless industrial and consumer goods within the plastics,
rubber & adhesives, fuels & lubricants, oilfield, pharmaceutical, and
industrial resins industries. Headquartered in Schenectady, New York, SI
Group's global manufacturing footprint includes 24 facilities on five
continents, serving customers in 90 countries with 2,800 employees worldwide.
SI Group innovates and drives change to create value with a passion for safety,
chemistry, and extraordinary results. Learn more at www.siigroup.com.
Media Contact:
Joseph Grande
ph: + 1.413.684.2463
joe@jgrandecommunications.com
SOURCE SI Group
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