COVINGTON, Ky., July 1 /PRNewswire-FirstCall/ -- Ashland Inc. (NYSE:
ASH) today announced that it has completed the purchase of the
pressure-sensitive adhesive business and the atmospheric emulsions business
from Air Products and Chemicals, Inc. (NYSE: APD). The $92 million
transaction includes manufacturing facilities in Elkton, Md., and Piedmont,
S.C.
(Logo: http://www.newscom.com/cgi-bin/prnh/20040113/ASHLANDLOGO )
"We are very excited to now bring this strong line of products to our
portfolio and expand our offering to customers," said Marcello Boldrini,
vice president, Ashland Performance Materials, and general manager, Ashland
Specialty Polymers & Adhesives (SP&A). "This is a highly desirable addition
to our current adhesives and coatings platform." The purchased operations,
which will now merge into Ashland's SP&A business group, had sales of $126
million in 2007, principally in North America.
Ashland Specialty Polymers & Adhesives, a business group of Ashland
Performance Materials, is a global leader in pressure sensitive and
structural adhesives for the packaging and converting, building and
construction, and transportation industries.
Ashland Performance Materials, a division of Ashland Inc., is a
worldwide manufacturer and supplier of specialty chemicals and customized
services to the building and construction, packaging and converting,
transportation, marine and metal casting industries. It is a technology
leader in metal casting consumables and design services; unsaturated
polyester and vinyl ester resins and gelcoats; and high-performance
adhesives and specialty resins.
Ashland Inc., a diversified, global chemical company, provides quality
products, services and solutions to customers in more than 100 countries. A
FORTUNE 500 company, it operates through four divisions: Ashland
Performance Materials, Ashland Distribution, Valvoline and Ashland Water
Technologies. 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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Related links:
http://www.ashland.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20040113/ASHLANDLOGO
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PRN Photo Desk, photodesk@prnewswire.com
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CONTACT:
Jim Vitak, Ashland Inc., +1-614-790-3715,
jevitak@ashland.com
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