Ashland completes previously announced sale of industrial biocides assets to Troy Corporation
July 01 2015 - 11:00AM
July 1, 2015
COVINGTON, Ky. - Ashland Inc.
(NYSE: ASH) today announced that it has completed the previously
announced sale of the industrial biocides assets within Ashland
Specialty Ingredients to Troy Corporation, a global leader in
microbial control products and performance additives. Financial
terms were not disclosed.
Industrial biocides help control
and prevent the growth of bacteria, mold and other microorganisms
in a wide range of coatings, construction materials and energy
products.
Specialty Ingredients' lineup of
preservatives products, which is focused on consumer markets, was
excluded from the sale to Troy. Ashland is committed to retaining
and growing that strategic business.
About
Troy
Troy Corporation develops and manufactures specialty materials that
enhance the properties and performance of its customers' products
and processes, and is committed to helping manufacturers meet
global requirements for compliance and sustainability. Founded in
1950, Troy is headquartered in Florham Park, New Jersey, with sales
offices throughout the United States, Canada, Europe, Asia, and
Latin America. Troy materials are used and available in over 100
countries worldwide.
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. Visit ashland.com to learn more.
- 0 -
C-ASH
Forward-Looking
Statements
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Ashland has identified some of these forward-looking statements
with words such as "anticipates," "believes," "expects,"
"estimates," "is likely," "predicts," "projects," "forecasts,"
"may," "will," "should" and "intends" and the negative of these
words or other comparable terminology. In addition, Ashland may
from time to time make forward-looking statements in its annual
report, quarterly reports and other filings with the Securities and
Exchange Commission (SEC), news releases and other written and oral
communications. These forward-looking statements are based on
Ashland's expectations and assumptions, as of the date such
statements are made, regarding Ashland's future operating
performance and financial condition, the economy and other future
events or circumstances. Ashland's expectations and assumptions
include, without limitation, internal forecasts and analyses of
current and future market conditions and trends, management plans
and strategies, operating efficiencies and economic conditions
(such as prices, supply and demand, cost of raw materials, and the
ability to recover raw-material cost increases through price
increases), and risks and uncertainties associated with the
following: Ashland's substantial indebtedness (including the
possibility that such indebtedness and related restrictive
covenants may adversely affect Ashland's future cash flows, results
of operations, financial condition and its ability to repay debt),
the impact of acquisitions and/or divestitures Ashland has made or
may make (including the possibility that Ashland may not achieve
the anticipated benefits from such transactions), the global
restructuring program (including the possibility that Ashland may
not realize the anticipated revenue and earnings growth, cost
reductions and other expected benefits from the program), Ashland's
ability to generate sufficient cash to finance its stock repurchase
plans, severe weather, natural disasters, and legal proceedings and
claims (including environmental and asbestos matters). Various
risks and uncertainties may cause actual results to differ
materially from those stated, projected or implied by any
forward-looking statements, including, without limitation, risks
and uncertainties affecting Ashland that are described in its most
recent Form 10-K (including Item 1A Risk Factors) filed with the
SEC, which is available on Ashland's website at
http://investor.ashland.com or on the SEC's website at
http://www.sec.gov. Ashland believes its expectations and
assumptions are reasonable, but there can be no assurance that the
expectations reflected herein will be achieved. Unless legally
required, Ashland undertakes no obligation to update any
forward-looking statements made in this news release whether as a
result of new information, future event or otherwise.
FOR FURTHER
INFORMATION:
Ashland Media Relations:
Gary
Rhodes
+1 (859)
815-3047
glrhodes@ashland.com
Ashland Investor Relations:
Jason
Thompson
+1 (859) 815-4454
jlthompson@ashland.com
Troy Corporation
Geoff Clay
+1 (973) 443-4200, ext. 2581
clayg@troycorp.com
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX 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
HUG#1933451
Ashland (NYSE:ASH)
Historical Stock Chart
From Mar 2024 to Apr 2024
Ashland (NYSE:ASH)
Historical Stock Chart
From Apr 2023 to Apr 2024