Ashland takes aim at fast-growing global nutraceuticals market, with help from Pharmachem
November 28 2017 - 8:30AM
YASTEST
Combining Ashland's strength in
nutrition and food science with Pharmachem's ingredient processing
expertise in renamed Health and Wellness unit
WILMINGTON, DE, November 28, 2017
- Ashland (NYSE: ASH) is taking aim at the fast-growing global
nutraceuticals market by combining its nutrition business with the
ingredients processing expertise of recently acquired Pharmachem.
The combined unit, which will be called Health and Wellness, will
continue to report up through Ashland's Specialty Ingredients
segment.
"Our plan is to fulfill the
growing needs of a thriving and ever-changing global marketplace
for nutraceutical products, including dietary supplements, food and
beverages," said David Neuberger, group vice president,
pharmaceutical, nutrition and agriculture. "We intend to harness
the synergy created between Ashland and Pharmachem to help us fully
capitalize on emerging trends in the nutraceutical marketplace and
food-based supplements."
He added: "We are combining the
expertise and knowledge of two great companies and expanding our
functional food platform on a global basis. It will enable us to
utilize Ashland's comprehensive food science capabilities, along
with Pharmachem's advanced ingredient process services expertise,
to develop innovative new products for the nutra-food and beverage
industry."
Colin MacIntyre, Pharmachem
executive vice president and general manager, said: "Ashland's
technical knowledge of food science will add a valuable new
dimension to our ingredient processing capabilities, and enable the
new division to respond quickly and seamlessly to the needs of
brand marketers."
Ashland has helped customers
address global trends in food and beverage development - from
stabilizing sugar reduced beverages to adapting foods for
gluten-free diets.
About Ashland
Ashland Global Holdings Inc. (NYSE: ASH) is a premier global
specialty chemicals company serving customers in a wide range of
consumer and industrial markets, including adhesives, architectural
coatings, automotive, construction, energy, food and beverage,
personal care and pharmaceutical. At Ashland, we are approximately
6,500 passionate, tenacious solvers - from renowned scientists and
research chemists to talented engineers and plant operators - who
thrive on developing practical, innovative and elegant solutions to
complex problems for customers in more than 100 countries.
Visit ashland.com to learn more.
C-ASH
(TM) Trademark, Ashland or its
subsidiaries, registered in various countries.
FOR FURTHER
INFORMATION:
Investor Relations:
Seth A.
Mrozek
+1 (859) 815-3527
samrozek@ashland.com
Media Relations:
Gary Rhodes
+1 (859) 815-3047
glrhodes@ashland.com
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Ashland Inc. via Globenewswire
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