Breaking News

Clariant and Ashland Complete Sale of ASK Chemicals

July 3, 2014

Joint venture now involved with private equity investment firm.

Clariant and Ashland Inc. reported the closing of the previously announced sale of their joint venture ASK Chemicals, headquartered in Hilden, Germany, to investment funds affiliated with Rhône, a London and New York-based private equity investment firm on June 30, 2014.


 
The enterprise value of the transaction before debt and assumed liabilities amounts to $357 million (CHF 310 million and EUR 257 million. Proceeds will be split evenly between Ashland and Clariant under terms of the 50/50 joint venture.


 
“The divestment of our stake in ASK Chemicals is part of our continuous active portfolio management to reallocate capital towards our more profitable growth areas,” said Hariolf Kottmann, CEO of Clariant.


 
With 1,800 employees in 25 countries ASK Chemicals is a leading foundry chemicals manufacturer. Its portfolio encompasses an exceptionally broad and innovative range of foundry resources such as binders, coatings, feeders, filters and release agents, as well as metallurgical products including inoculants, inoculation wires and master alloys for iron casting. In full-year 2013 ASK Chemicals generated revenues of $702.1 million (EUR 513 million).
blog comments powered by Disqus
  • What’s New at La Prairie?

    What’s New at La Prairie?

    Melissa Meisel, Associate Editor||April 25, 2016
    VP of marketing shares the latest buzz with Happi.

  • Mapping Out Multicultural Beauty

    Mapping Out Multicultural Beauty

    April 25, 2016
    Agnieszka Saintemarie of Kline Group about current trends and challenges in multicultural beauty.

  • At a Loss for Curls?

    April 22, 2016
    Amplixin, a Miami-based maker of hair strengthening products, has a solution for hair loss.

  • Who Makes That?

    Who Makes That?

    Tom Branna, Editorial Director||April 1, 2016
    From concept and formulation to testing and filling, today’s contract manufacturers perform a range of services for marketers

  • Multi-Cultural Beauty Update

    Multi-Cultural Beauty Update

    Christine Esposito, Associate Editor||April 1, 2016
    Established brands and start-ups address the needs of multi-cultural beauty consumers.

  • The Scalp Microbiome

    The Scalp Microbiome

    Nava Dayan PhD, Dr. Nava Dayan LLC||April 1, 2016
    A review of recent findings and innovative approaches for treating scalp disorders.