Rhône To Acquire Foundry Chemicals Company | Chemical & Engineering News
Volume 92 Issue 15 | p. 14 | Concentrates
Issue Date: April 14, 2014

Rhône To Acquire Foundry Chemicals Company

Department: Business
Keywords: divestment, private equity, foundry chemicals

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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