Ashland acquires the assets of Nanjing Clear Environment Protection Co. Ltd.

03-13-2006: Ashland Inc. announced that it 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.

Len Gelosa, senior vice president, Water Technologies, Ashland Specialty Chemical, said, "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 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.