Ashland to Buy Air Products Adhesive and Polymer Assets

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.