Chase Corporation Divests Structural Composites Business

WESTWOOD, Mass.--(BUSINESS WIRE)--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.