SI Group Announces Sale of Industrial Resin Businesses
SCHENECTADY, NY – SI Group announced an agreement to sell the majority of its global industrial resin businesses and its Brazilian specialty business to ASK Chemicals, a portfolio company of private equity firm Rhône Group LLC.
The transaction includes SI Group’s industrial resins products and associated manufacturing sites in Rio Claro, Brazil; Ranjangaon, India; and Johannesburg and Durban, 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. The deal is expected to close later this year.