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Ashland Completes Sale of its Elastomers Business to Lion Copolymers

Published on 2014-12-04. Author : SpecialChem

COVINGTON, Ky. - Ashland Inc. (NYSE: ASH) announced it has completed the sale of its elastomers business, based in Port Neches, Texas, to Lion Copolymer Holdings, LLC. Financial terms were not disclosed.

The elastomers business, which primarily serves the North American replacement tire market, accounted for approximately 18 percent of Ashland Performance Materials' $1.6 billion in sales in fiscal 2014. Ashland operates a 250-person manufacturing facility in Port Neches that serves elastomers customers.

"We are pleased with the value we received for the business and believe this transaction represents a good strategic fit for Lion," said James J. O'Brien, Ashland chairman and chief executive officer.

About Ashland

Ashland Inc. (NYSE: ASH) is a global leader in providing specialty chemical solutions to customers in a wide range of consumer and industrial markets, including architectural coatings, automotive, construction, energy, food and beverage, personal care and pharmaceutical. Through our three commercial units - Ashland Specialty Ingredients, Ashland Performance Materials and Valvoline - we use good chemistry to make great things happen for customers in more than 100 countries.

About Lion Copolymer
Lion Copolymer has been a leader in synthetic rubber manufacturing with world-class production facilities in Geismar, Louisiana. During that time, Lion Copolymer and its legacy companies have developed and emphasized a solid, trusting and dependable relationship with its customers. Lion Copolymer’s Customer Service, Technical Service, R&D and Sales organizations are ready to serve its customers’ development, application and commercial needs. Its Technical Service Team has several scientists with extensive experience in the industry, and ready to assist with its customers’ technical needs. They will provide support by developing and recommending polymers and compounds, solving processing problems, determining product specifications and resolving complaints. Its Customer Service and Sales teams can address its customers’ commercial issues to provide a mutually beneficial business relationship.

Source: Ashland
 


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