Industry News

Ashland Finalizes Sale of Its Maleic Anhydride Business to AOC Materials

Published on 2020-10-13. Edited By : SpecialChem

acquisition-sell-buyAshland has closed the sale of its maleic anhydride business and manufacturing facility in Neal, West Virginia to AOC Materials LLC, for $100 million.

Sale Promotes Ashland’s Focus on Specialty Ingredients

Maleic anhydride is manufactured industrially on a large scale for applications in coatings and polymers. The business was previously excluded from the sale of Ashland’s Composites business and the butanediol (BDO) manufacturing facility in Marl, Germany, to INEOS Enterprises.

This sale furthers Ashland’s strategic focus on specialty ingredients and improved margins,” said Guillermo Novo, chairman and chief executive officer, Ashland. “I want to thank the employees of the maleic business for their important contributions to Ashland and wish them well as they transition to AOC.”

We are pleased to bring this business into the AOC family,” said Joe Salley, chief executive officer, AOC. “We welcome our new employees and we are excited about the strategic growth opportunities.”

About Ashland

Ashland Global Holdings is a specialty chemicals company serving customers in a wide range of consumer and industrial markets, including architectural coatings, automotive, construction, adhesives, energy, food and beverage, personal care and pharmaceutical.

Source: Ashland
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