COVINGTON, Ky., May 31 /PRNewswire-FirstCall/ -- Ashland Inc. (NYSE:
ASH) announced today that it has completed its purchase of the water
treatment business of Degussa AG -- branded under the Stockhausen name --
in North America, South America, western Europe and most of the rest of the
world. In the areas where the purchase has not been completed, the parties
have undertaken necessary steps to ensure that statutory requirements are
met for the expected regulatory approvals. The entire transaction is valued
at approximately 122 million euros.
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The Stockhausen business will be known as Environmental and Process
Solutions and operate as a business group of Ashland Water Technologies, a
business of Ashland Specialty Chemical, a division of Ashland Inc.
"With this transaction, we significantly expand our technology base and
product lines through the addition of water soluble polymer technology,
greatly enhancing our offering to our customers," said Len Gelosa, senior
vice president, Ashland Water Technologies. "Further, we expand our
presence in strong existing markets like Europe and the U.S., as well as
new growth markets like China, Russia and Brazil."
Five manufacturing facilities located in Germany, China, Brazil, Russia
and the United States are included in the transaction. The Degussa water
treatment business posted 2005 sales of nearly $250 million.
Ashland Water Technologies, a business of Ashland Specialty Chemical,
is a supplier of chemical and non-chemical water-treatment solutions for
industrial and commercial facilities. It provides industrial, commercial
and institutional water treatments, wastewater treatment, pathogen control,
paint and coating additives, pulp and paper processing and mining
chemistries. In addition, it also provides boiler and cooling water
treatments, fuel treatments, welding, refrigeration and sealing products;
and fire fighting, safety and rescue products and services for the merchant
marine industry.
Ashland Specialty Chemical, a division of Ashland Inc., is a leading,
worldwide supplier of specialty chemicals serving industries including
adhesives, automotive, composites, metal casting, merchant marine, paint,
paper, plastics, watercraft and water treatment. Visit http://www.ashspec.com to
learn more about these operations.
Ashland Inc. (NYSE: ASH) is a FORTUNE 500 chemical and transportation
construction company providing products, services and customer solutions
throughout the world. To learn more about Ashland, visit http://www.ashland.com.
Fortune 500 is a registered trademark of Time Inc.
SOURCE Ashland Inc.
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