Clariant and Ashland finalized sale of ASK Chemicals

MUTTENZ/COVINGTON – Clariant and Ashland Inc. have finalised the sale of their joint venture ASK Chemicals to investments funds affiliated with Rh?ne. Headquartered in Hilden, Germany, ASK Chemicals’ sale was finalised on 30 June 2014. The enterprise value of the transaction before debt and assumed liabilities amounts to €257 million. Proceeds of the sale will be divided equally between Ashland and Clariant under terms of the 50/50 joint venture.

Clariant’s divestment of its stake in ASK Chemicals is part of the Group’s continuous active portfolio management to reallocate capital towards more profitable growth areas, according to Hariolf Kottmann, Clariant chief executive officer.  

With 1,800 employees in 25 countries ASK Chemicals is a foundry chemicals manufacturer. Its portfolio includes a 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.