The SI Group, a leading global developer and manufacturer of performance additives, process solutions, pharmaceuticals and chemical intermediates has announced that its agreement to sell the majority of its global Industrial Resin businesses and its Brazilian Specialty business to ASK Chemicals has 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 communities, and our customers. This commitment includes supporting our Industrial Resin customers globally,” said David Bradley, President and CEO of SI Group.
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.
SI Group South Africa is a crucial foundry partner
In 2004 Schenectady International, Inc. (now known as the SI Group), through its South African affiliate, Schenectady South Africa (Pty) Ltd reached an agreement to partner in South Africa with Hüttenes-Albertus Chemische Werke GmbH (HA) by acquiring Hüttenes Albertus Falchem (Pty) Ltd and Zeta Resins (Pty) Ltd’s foundry and timber chemical intermediates business.
In 2010, in order to streamline operations in South Africa and make the group more cost effective, it was decided to flatten this structure and incorporate HA Falchem SA (Pty) Ltd into the SI Group, and SI Group South Africa (Pty) Ltd was formed.
The SI Group is a leading global developer and manufacturer of chemical intermediates, specialty resins and solutions that are critical to the quality and performance of countless industrial and consumer goods.
Hüttenes-Albertus Falchem was established in 1973 in Johannesburg, South Africa. From a small importer of foundry auxiliary products, it developed into a manufacturing unit of binder systems and coatings under licence to Hüttenes-Albertus Chemische Werke GmbH in Germany and became a major supplier to the South African foundry industry and exporter to many surrounding countries in Africa and the Far East.
Zeta Resins was established in 1999 through a management buyout. The company previously operated as Genkem supplying the foundry and timber industries for over 25 years, manufacturing resins locally, using international technology from their partner Borden Chemicals.
About SI Group
The SI Group, which was established in 1906, 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 per cent of more than 45 000 worldwide companies. For more information, please visit www.siigroup.com.