ASK Chemicals Completes Acquisition of SI Group’s Industrial Resins Business
HILDEN, Germany – ASK Chemicals Group recently announced it has completed the acquisition of the industrial resins business from SI Group. With this transaction, ASK Chemicals Group, headquartered in Hilden near Düsseldorf, Germany, is reportedly 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. ASK Chemicals has also purchased licensed technology and concluded multiple tolling agreements worldwide.
With the acquisition, ASK Chemicals is reinforcing its position in the foundry market and also taking a first step in building a phenolic industrial resins business. The foundry related business will be integrated into ASK Chemicals’ foundry division. 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.”
Learn more at www.ask-chemicals.com.
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