Commission backs Sud-Chemie, Ashland foundry activities transfer

30 November 2010 12:05  [Source: ICIS news]

LONDON (ICIS)--The European Commission has approved the transfer of Sud-Chemie and Ashland’s foundry consumable activities to their joint venture Ashland-Sudchemie Kernfest (ASK), the executive body said on Tuesday.

“After examining the operation carefully, the Commission concluded that the transaction would not significantly impede effective competition in the EEA [European Economic Area] or any substantial part of it and has therefore approved the concentration,” the Commission said.

Under the deal, US-based Ashland and German Sud-Chemie will further contribute to ASK all their remaining foundry consumable activities, except the latter's foundry bentonite business, which will be retained by Sud-Chemie.

ASK is an existing joint venture between the two manufacturers. It supplies chemical products for the foundry industry.

Foundry consumables are used in the casting process – the production of shaped articles by pouring molten metal into moulds.

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By: Hilde Ovrebekk
+44 20 8652 3214

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