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.

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 .