MUTTENZ, Switzerland/COVINGTON, KY – Specialty chemicals company Clariant and Ashland Inc. have closed the previously announced sale of their joint venture ASK Chemicals, headquartered in Hilden, Germany, to investment funds affiliated with Rhône, a London and New York-based private equity investment firm.

“The divestment of our stake in ASK Chemicals is part of our continuous active portfolio management to reallocate capital towards our more profitable growth areas,” said Hariolf Kottmann, CEO of Clariant.

ASK Chemicals is a leading foundry chemicals manufacturer with a portfolio that encompasses a broad and innovative range of foundry resources such as binders, coatings, feeders, filters and release agents, as well as metallurgical products including inoculants, inoculation wires and master alloys.