Hill and Griffith Co. has sold several product lines, along with the operations that support them, to a Greek company, S&B Industrial Minerals, for a reported $13.4 million.
Cincinnati-based Hill and Griffith, explained the sale includes its Premix line of preblended green-sand additives; Carbonite, another green-sand additive; the Seacoal product line; and Kwik-Flo, a causticized lignite product. All these product lines will continue to be available through the new ownership group.
The sale also includes the Hill and Griffith's mineral division offices supporting those product lines in Birmingham, Burbank, OH, Cincinnati, and Chicago. The decision was motived by an effort to "strengthen its core competency with proprietary industrial chemicals including release agents and specialty products for the metal, concrete, and other diversified industries," the company stated.
“This sale gives Hill and Griffith an opportunity to expand its business and relationships in the specialty products, lubricants, release agents, and other diversified products and industries,” according to executive vice president and COO David Greek, Jr. “We are extremely excited about the future, and the opportunities that present themselves to further strengthen and grow our organization in fashions that have not been available in the past.”
Hill and Griffith added it will continue to manufacture all of its other products under its own name. It said it would retain its Indianapolis, Birmingham, and Burbank manufacturing operations, and its management offices on Summer St. in Cincinnati. Its international headquarters would remain in Cold Springs, KY.
Hill and Griffith Sells Four Product Lines
Premix, Carbonite, Seacoal, and Kwik-Flo to be available via new owner