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ASK Chemicals acquires Hexion’s European foundry business

The foundry chemicals group ASK Chemicals (Hilden, Germany) has purchased the European foundry business of Hexion Inc (Ohio, USA). With the acquisition ASK Chemicals has broadened its range of foundry chemicals in the field of Alphaset phenolic resin

ASK Chemicals and Hexion have agreed on 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.
There will be no changes in product, production or contractual terms.
“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 resin,” said Frank Coenen, chief executive officer of ASK Chemicals. “We will introduce the world- leading products of the Alphaset family to a wider foundry market.”
Alphaset products are especially known for their superior technical and environmental performance in the field of no-bake binders.