Chase Corporation Divests Structural Composites Business
Westwood, MA –April 18, 2018 – Chase Corporation (NYSE American: CCF), announced that it has sold its structural composites rod business to Roblon US, Inc. for a purchase price of approximately $2,100,000, pending any working capital adjustments and excluding any future royalty payments to be made by the buyer. The transaction, entered today, is set to close on April 20, 2018. The substantially full divestiture of the structural composites business follows Chase Corporation’s sale of the RodPack® wind blade components business in November 2015, and the licensing of certain composite technologies during the second quarter of fiscal 2018, both to separate and unrelated firms. Chase Corporation’s sale of its structural composites rod business to Roblon in April 2018 follows the Company’s sale of its fiber optic cable components business, also to Roblon, in April 2017.
Adam P. Chase, Chase Corporation’s President and Chief Executive Officer, commented,
“The sale of this business that supports the wind energy industry to Roblon is a continuation of an orderly exit for Chase Corporation as part of our strategy to focus on our core activities centered on specialty chemicals based protective materials. Roblon U.S.A. continues to be an excellent partner who is focused on this business area.”
Production of fiber composite base rod, which is sold into the wind energy market for use in wind turbine blade construction, will continue at Chase Corporation’s Granite Falls, NC facility, where Roblon leases space.
Shareholder & Investor Relations Department
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Chase Corporation, founded, a global specialty chemicals company that was founded in 1946, is a leading manufacturer of protective materials for high reliability applications throughout the world.
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