Ashland completes acquisition of composites manufacturing facility in France from Reichhold
COVINGTON, KY, June 6, 2017 - Ashland Global Holdings Inc. (ASH) today announced that it has completed the previously announced acquisition of a composites resin manufacturing facility in Etain, France, and its associated business, from Reichhold Holdings International B.V.
The facility, which employs approximately 50 people, manufactures unsaturated polyester resins (UPR) used in a variety of end markets, including transportation and construction. Reichhold said the divestiture was an integral part of the program to achieve closing of its previously announced combination with Polynt.
"The addition of the Etain facility strengthens Ashland`s position in the European composites market," said Andy Johnston, group vice president, Composites. "Together with Ashland`s existing facilities in Spain, Finland and Poland, we are well positioned to deliver enhanced customer service and support future growth opportunities across Europe. The Etain technologies in automotive (SMC) and wind energy applications will allow Ashland to supplement the already extensive composites product portfolio in Europe to support our existing and new customers."
About Ashland
Ashland Global Holdings Inc. (ASH) is a premier global specialty chemicals company serving customers in a wide range of consumer and industrial markets, including adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care and pharmaceutical. At Ashland, we are nearly 7,000 passionate, tenacious solvers - from renowned scientists and research chemists to talented engineers and plant operators - who thrive on developing practical, innovative and elegant solutions to complex problems for customers in more than 100 countries. Visit ashland.com to learn more.
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Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Ashland has identified some of these forward-looking statements with words such as "anticipates," "believes," "expects," "estimates," "is likely," "predicts," "projects," "forecasts," "objectives," "may," "will," "should," "plans" and "intends" and the negative of these words or other comparable terminology. In addition, Ashland may from time to time make forward-looking statements in its annual reports, quarterly reports and other filings with the SEC, news releases and other written and oral communications. These forward-looking statements are based on Ashland`s expectations and assumptions, as of the date such statements are made, regarding Ashland`s future operating performance and financial condition. Ashland`s expectations and assumptions include, without limitation, internal forecasts and analyses of current and future market conditions and trends, management plans and strategies, operating efficiencies and economic conditions (such as prices, supply and demand, cost of raw materials, and the ability to recover raw-material cost increases through price increases), and risks and uncertainties associated with the following: Ashland`s substantial indebtedness (including the possibility that Ashland`s substantial indebtedness and related restrictive covenants may adversely affect Ashland`s future cash flows, results of operations, financial condition and its ability to repay debt); the impact of acquisitions and/or divestitures Ashland has made or may make, including the acquisition of Pharmachem (including the possibility that Ashland may not realize the anticipated benefits of such transactions); and severe weather, natural disasters, and legal proceedings and claims (including environmental and asbestos matters). Various risks and uncertainties may cause actual results to differ materially from those stated, projected or implied by any forward-looking statements, including, without limitation, risks and uncertainties affecting Ashland that are described in Ashland`s most recent Form 10-K (including Item 1A Risk Factors) filed with the SEC, which is available on Ashland`s website at http://investor.ashland.com or on the SEC`s website at http://www.sec.gov. Ashland believes its expectations and assumptions are reasonable, but there can be no assurance that the expectations reflected herein will be achieved. Unless legally required, Ashland undertakes no obligation to update any forward-looking statements made in this news release whether as a result of new information, future events or otherwise.
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Source: Ashland Inc. via GlobeNewswire
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