Home / Knowledge / News / Textiles / Ashland hives off elastomers business to Lion Copolymer
Ashland hives off elastomers business to Lion Copolymer
16
Oct '14
NYSE-listed Ashland Inc. said it has hived off its elastomers business based in Port Neches, Texas to Lion Copolymer Holdings, LLC.

The elastomers business accounted for approximately 17 percent of Ashland Performance Materials' $1.6 billion in sales for the trailing 12 months ended June 30, 2014.

This business, which employs around 250 people at the Texas facility, was acquired by Ashland as part of the International Specialty Products transaction in August 2011.

"This decision fits Ashland's well-established strategy of divesting non-core assets and reinvesting in higher-margin, specialty chemical businesses,” said James O'Brien, CEO at Ashland.

He added, "We are pleased with the value we received for the business and believe this transaction represents a good strategic fit for Lion."

"With the acquisition of the Ashland elastomers business, we are pleased once again to be in this segment,” said Jesse Zeringue, Executive VP of Lion Copolymer Holdings.

"We think the size of the facility, access to feedstock and excellent storage capacity, combined with specialty products provide us with an excellent growth opportunity,” he informed.

Ashland markets specialty chemical solutions which include architectural coatings, automotive, construction, energy, food and beverage, personal care and pharmaceutical.

Through its three commercial units - Ashland Specialty Ingredients, Ashland Performance Materials and Valvoline – it serves customers in more than 100 countries. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 18th Jun 2021

Bangladesh can save $500 mn annually by recycling cotton waste: CFP

Bangladesh's garment industry can reduce its annual spending by $0.5...

Cotton bales ready for sale in Brazilian market. Pic: Alf Ribeiro / Shutterstock.com

Textiles | On 18th Jun 2021

Prime Content| Brazil: Selling in domestic cotton market lucrative than exporting

Cotton prices have been firm in the Brazilian market and 23 per cent...

Pic: Neiman Marcus

Information Technology | On 18th Jun 2021

American department store chain Neiman Marcus to acquire Stylyze

American department store chain Neiman Marcus has announced its...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Strike a balance between handmade in India and 'Make in India'

Textile Industry, Head honchos

Textile Industry
Head honchos

Next level is to inject new features:

Water stewardship, Stakeholders

Water stewardship
Stakeholders

Water use efficiency remains relatively unexplored

Simone Morgante,

Simone Morgante

Based out of Como, Italy, and with technological expertise of nearly 70...

Barry Goodwin,

Barry Goodwin

UK based Amba Projex Ltd designs, manufactures, and installs industrial...

Bharat Ahuja,

Bharat Ahuja

A mono store brand, <b>Bharat Ahuja's</b> Desire Design Studio has emerged ...

Daniel Odermatt, Ventile

Daniel Odermatt
Ventile

Ventile is a registered trademark used to brand a special high-quality...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Asif Rahman, MIP

Asif Rahman
MIP

MIP is a manufacturer and distributor of high-performance textiles and...

Sandeep Gonsalves & Sarah Gonsalves, Sarah & Sandeep

Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep

Established in 2012, Sarah &amp; Sandeep is a luxury menswear label...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search