Schenectady, New York – Performance additives specialist SI Group has completed the sale of a majority of its global industrial resins business to ASK Chemicals, a portfolio company of private equity firm, Rhône Group.
The transaction includes SI Group's industrial resins products and associated manufacturing sites in Rio Claro, Brazil; Ranjangaon, India; and Johannesburg, South Africa, as well as licensed technology and multiple tolling agreements globally.
In a 1 Nov statement, the company said its retaining "related businesses" in Rio Claro, Brazil and will continue servicing customers in the rubber & adhesives, oilfield, surfactants, and foundry markets.
Furthermore, it is also retaining the industrial resin businesses in the US and China.
SI Group’s industrial resins unit manufactures a wide range of resin solutions for friction, abrasives, refractory, insulation, and composites which can be used in a variety of rubber and elastomer applications.