Ashland Completes Purchase of Air Products

COVINGTON, Ky.—Ashland Inc. announced that it has completed the purchase of the pressure-sensitive adhesive business and the atmospheric emulsions business from Air Products and Chemicals, Inc. The $92 million transaction includes manufacturing facilities in Elkton, Md., and Piedmont, S.C.

“We are very excited to now bring this strong line of products to our portfolio and expand our offering to customers,” said Marcello Boldrini, vice president, Ashland Performance Materials, and general manager, Ashland Specialty Polymers & Adhesives (SP&A). “This is a highly desirable addition to our current adhesives and coatings platform.” The purchased operations, which will now merge into Ashland’s SP&A group, had sales of $126 million in 2007, principally in North America.