ASC's Drew Industrial purchase Finnan Engineered Products Ltd.

02-Feb-2001

The Canadian operations of Ashland Specialty Chemical Company's Drew Industrial Division have completed a cash for assets purchase of Finnan Engineered Products Ltd., a water treatment services company based in Toronto. Purchase price was not disclosed.

Manufacturing and warehousing will be consolidated with Drew Industrial's current operations in Ajax, Canada, near Toronto. Finnan employees are being offered an opportunity to join Drew Industrial's operations based there.

"The acquisition of Finnan Engineered Products is part of our strategic plan to grow our worldwide water treatment business and to expand our operations in Canada," said Len Gelosa, Drew Industrial Division vice president and general manager.

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