SI Group Signs Agreement to Sell its Industrial Resins Business To ASK Chemicals
SI Group, a leading performance additives company, said today that it intends to close the deal to sell the majority of its global Industrial Resins business to ASK Chemicals, a portfolio company of private equity firm Rhône Group, LLC.
SI Group's Industrial Resins products and related production facilities in Rio Claro, Brazil; Ranjangaon, India; and Johannesburg, South Africa, as well as licensed technology and numerous tolling agreements worldwide, are included in the transaction. ASK Chemicals, based in Hilden, Germany, is a global leader in the foundry materials sector, producing binders, coatings, feeders, filters, release agents, and metallurgical products such as iron casting inoculants, inoculation wires, and master alloys.
SI Group will carve out related businesses at these locations, including the production of Rubber & Adhesives, Oilfield, Surfactants, and Foundry products in Brazil, and will operate tolling agreements with ASK. The company will also retain the Industrial Resins businesses in the United States and China.
About SI Group
SI Group is a worldwide innovator in developing performance additives, process solutions, active pharmaceutical ingredients, and chemical intermediates. SI Group solutions are critical to improving the quality and performance of a wide range of industrial and consumer goods in the plastics, rubber and adhesives, fuels and lubricants, oilfield, pharmaceutical, and industrial resins sectors. SI Group, headquartered in Schenectady, New York, has a global manufacturing presence that comprises 24 facilities on five continents, servicing clients in 90 countries and employing 2,800 people worldwide. SI Group innovates and drives change to generate value, focusing on safety, chemistry, and exceptional results.