SI Group has announced an agreement to sell the majority of its global industrial resin businesses and its Brazilian specialty business to ASK Chemicals. 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, along with licensed technology and multiple tolling agreements globally. The deal is expected to close later this year.
“While the industrial resins business has long been a part of the SI Group portfolio, the decision to sell this portion of the business affords us the opportunity to reshape our portfolio,” said David Bradley, president & CEO of SI Group. “The sale of this business provides proprietary technology and know-how in the industrial resins business to ASK while realigning our focus around performance additives.”
According to the companies, SI Group will carve out related businesses at these four sites, including the manufacture of global rubber & adhesives and oilfield products, as well as foundry products in Brazil, and will operate tolling agreements with ASK.
The post SI Group to Sell Industrial Resin Business to Ask Chemicals appeared first on American Coatings Association.
from American Coatings Association https://www.paint.org/si-group-to-sell-industrial-resin-business-to-ask-chemicals/
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