Innovation through Chemistry


SI GROUP ANNOUNCES TERMINATION OF AGREEMENT TO SELL INDUSTRIAL RESIN BUSINESS

Global Manufacturing Operations Demonstrate Commitment to Industry

 

SCHENECTADY, NY – April 3, 2020 – SI Group a leading global developer and manufacturer of performance additives, process solutions, pharmaceuticals and chemical intermediates, announced today that its agreement to sell the majority of its global Industrial Resin businesses and its Brazilian Specialty business to ASK Chemicals been terminated. The company previously announced the signing of the agreement in July 2019.

SI Group will continue manufacturing Industrial Resin products globally, including production at four sites; Rio Claro, Brazil; Ranjangaon, India; and Johannesburg and Durban, South Africa. “Despite the global economic uncertainty related to the COVID-19 pandemic, we are committed to ensuring the safety of our employees, our sites, our communitiies, and our customers,” said David Bradley, President and CEO of SI Group. “This commitment includes supporting our Industrial Resin customers globally.”

In addition to Industrial Resin products at these four manufacturing sites, SI Group also manufactures Rubber & Adhesives and Oilfield products, as well as Foundry products in Brazil and South Africa. In these two regions, SI Group will continue its technological cooperation with Huettenes-Albertus to support Foundry customers.


About SI Group

SI Group is a leading global developer and manufacturer of performance additives, process solutions, pharmaceuticals and chemical intermediates, with strong positions in the plastics, oilfield, rubber, fuels & lubricants, active pharmaceutical ingredients and industrial resins industries. SI Group solutions are critical to the quality and performance of countless industrial and consumer goods. Headquartered in Schenectady, New York, SI Group operates more than 30 manufacturing facilities on five continents with approximately $2 billion in annual sales, and more than 3,000 employees worldwide. SI Group is a portfolio company of SK Capital Partners. In 2018, SI Group received its third silver award for corporate social responsibility by EcoVadis and is ranked among the top seven percent of more than 45,000 worldwide companies. SI Group is The Substance Inside. For more information, visit www.siigroup.com.

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