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).
  • Sparkle & Shine

    Sparkle & Shine

    Melissa Meisel, Associate Editor||November 21, 2016
    Glam packaging and upscale scent combos are big at Yankee Candle for Holiday 2016.

  • Cos Bar: Turning 40 and Hitting Fast Forward

    Cos Bar: Turning 40 and Hitting Fast Forward

    Christine Esposito, Associate Editor||November 21, 2016
    With a recent investor infusion, a new CEO and rebranding effort underway, this luxury beauty retailer has big plans.

  • Organic Matter

    Organic Matter

    Christine Esposito, Associate Editor||November 14, 2016
    FTC and USDA hold a public roundtable to discuss consumers’ perception of organic claims.

  • The World Comes to Orlando

    The World Comes to Orlando

    Tom Branna , Editorial Director||December 1, 2016
    More than 1,600 chemists traveled to Florida for the IFSCC Congress

  • The Plex  Phenomenon

    The Plex Phenomenon

    Denise Costrini, Croda North America||December 1, 2016
    Croda details the hair-protecting qualities of bond multipliers and the company’s new bond-building formulation system.