ASK Chemicals, the global foundry chemicals supplier, is buying the European foundry chemicals organization of Hexion Inc., an Ohio-based developer of advanced epoxy and phenolic composite formulations. The cost of the acquisition was not announced.
ASK supplies sand binders, mold coatings, feeders, filters, release agents, and metallurgical products used for inoculation and Mg-treatment, inoculation wires, and master alloys for iron casting.
The purchase is described as “an intangible asset purchase of Hexion’s European business book and a long-term toll manufacturing agreement, whereby Hexion will continue to manufacture the products for ASK Chemicals.” The buyer noted the deal would expand its portfolio of phenolic resins (the Alphaset and Betaset product series) and furan resins.
It also emphasized that the business transition would be “seamless” for foundry customers.
“This acquisition is an important step in our growth strategy. With these new products ASK Chemicals is able to offer our customers an even broader portfolio of no-bake and furan resins,” stated Frank Coenen, ASK Chemicals CEO. “We will introduce the world-leading products of the Alphaset family (binder chemicals for no-bake molding) to a wider foundry market.”