Drew Industrial Division of Ashland Specialty Chemical Company purchases industrial water-treatment business of London-based Fernox
The Drew Industrial Division of Ashland Specialty Chemical Company, a division of Ashland Inc. (NYSE:ASH), recently purchased -- through its affiliate, Ashland UK Ltd. -- the industrial water-treatment business of London-based Fernox, a business unit of Alpha Fry Ltd. Terms of the agreement, effective Sept. 7, were not disclosed. The newly acquired business, whose activities are located in the United Kingdom, will operate within Ashland’s Drew Industrial Division (DID), whose main office is located in Boonton, N.J. “This acquisition is part of our continuing plan to grow our worldwide business,” said Leonard R. Gelosa, vice president and general manager of Ashland’s Drew Industrial Division. “Acquiring Fernox Industrial strengthens our position in the United Kingdom and specifically in the water-treatment middle market.” Fernox Industrial provided materials and services to industrial and commercial customers in the United Kingdom for servicing steam-raising, hot-water and water-cooling systems. It was a business unit of Fernox, which manufactures and distributes chemical products. Fernox is a business unit of Alpha Fry Ltd., which is owned by Cookson Group PLC, a UK-based industrial materials group. “The disposal of the industrial business will enable Fernox to focus on core domestic product lines and customers,” said Ernie McDonald, director at Fernox.
Ashland Specialty Ingredients, a commercial unit of Ashland Inc., announced that it would expand capacity at its Natrosol™ hydroxyethylcellulose (HEC) production facility in Nanjing by 4,000 metric tons, or approximately 40 percent, over the next 18 months.
The four-year-old facility, which ... more
Clariant and Ashland Inc.announced the closing of the previously announced sale of their joint venture ASK Chemicals, headquartered in Hilden, Germany, to investment funds affiliated with Rhône, a London and New York-based private equity investment firm on 30 June 2014.
The enterprise value ... more
Clariant and Ashland Inc. announced that they have entered into a definitive agreement to sell their joint venture, ASK Chemicals headquartered in Hilden, Germany, to investment funds affiliated with Rhône, a London and New York-based private equity investment firm.
The enterprise value of ... more