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Report: Clariant, Ashland to sell foundry chemicals JV

10:28 AM MDT | August 13, 2013 | Vincent Valk

Clariant and Ashland are planning to sell their 50-50 foundry chemicals joint venture, ASK Chemicals, according to a Reuters report. The business, which is operated by Clariant and based in Germany, generates about €25–30 million/year ($33–40 million) in earnings and has 1,800 employees. The report adds that Ashland and Clariant are aiming to sell ASK for about five to seven times Ebitda, which would total around €125–210 million. Unicredit (Milan) is reportedly advising on the sale. Bidders could include Asian foundry chemical...

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