Ashland buys assets of Nanjing Clear Environment Protection Co Ltd
09 Mar '06
2 min read
Chemical company Ashland Inc has acquired the assets of Nanjing Clear Environment Protection Co Ltd, executing its strategy to further invest in the water treatment business in the rapidly expanding Chinese market.
Ashland has formed a new company, Ashland (Nanjing) Chemical Co Ltd, which will integrate Nanjing Clear with Ashland's existing water technologies business in China.
James O'Brien, Chairman and Chief Executive Officer of Ashland, said, "The opportunity for us to gain a locally-based business with such a well-regarded reputation as Nanjing Clear fits well with Ashland's strategy."
Len Gelosa, Senior VP, Water Technologies, Ashland Specialty Chemical, added, "China's economy continues to experience dramatic growth and, as such, their needs for industrial water treatment also grow. The new entity will leverage our combined knowledge, skills and abilities to offer a global product source to supply China's industrial sector."
The focus of the newly formed company will continue to be on the customer. "Combining our resources will enable us to offer customer-driven solutions," said Larry Hale, Vice President of Drew Industrial's Asia Pacific Region, Water Technologies, Ashland Specialty Chemical. "We are very pleased that our companies provide complementary strengths."
The company will manufacture products for water, wastewater and environmental protection, and also manufacture feed, control and monitoring equipment in Nanjing. These will be sold into all industrial, commercial and institutional markets in China. Programs will be used to treat cooling, boiler, wastewater, influent raw water, gas cleaning (air scrubbers), and other process applications in customer locations.
Ashland (Nanjing) Chemical Co Ltd products, services and technical support will assist customers in reducing their overall cost of operation, conserving water resources and complying with environmental regulations.
Ashland Inc is a chemical and transportation construction company providing products, services and customer solutions throughout the world.
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