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Business

Rhône To Acquire Foundry Chemicals Company

by Alex Scott
April 14, 2014 | APPEARED IN VOLUME 92, ISSUE 15

Specialty chemical firms Clariant and Ashland have agreed to sell their joint venture ASK Chemicals, a German producer of chemicals for the metal foundry industry, to the private equity firm Rhône Group. Rhône is paying $352 million for the business. After adjusting for debt and assumed liabilities, the partners will receive a total of $204 million. The deal is expected to close in October. ASK generated sales last year of $707 million.

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