Ashland to Buy Air Products Adhesive and Polymer Assets
June 2008
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COVINGTON, Ky.—Ashland Inc. recently signed a definitive agreement with Air Products and Chemicals, Inc. for an asset purchase of Air Products’ pressure-sensitive adhesive business and its atmospheric emulsions business.
The $92 million transaction includes manufacturing facilities in Elkton, Md. and Piedmont, S.C. The purchased operations, which will merge into Ashland’s Specialty Polymers & Adhesives business group, had sales of $126 million in 2007, principally in North America.
Approximately 80 employees will transfer to Ashland upon closing of the acquisition, expected by June 30, dependent upon a number of standard closing conditions, including regulatory review.
Ashland Specialty Polymers & Adhesives, a business group of Ashland Performance Materials, produces 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.
For more information, visit http://www.ashland.com .
The $92 million transaction includes manufacturing facilities in Elkton, Md. and Piedmont, S.C. The purchased operations, which will merge into Ashland’s Specialty Polymers & Adhesives business group, had sales of $126 million in 2007, principally in North America.
Approximately 80 employees will transfer to Ashland upon closing of the acquisition, expected by June 30, dependent upon a number of standard closing conditions, including regulatory review.
Ashland Specialty Polymers & Adhesives, a business group of Ashland Performance Materials, produces 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.
For more information, visit http://www.ashland.com .
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