Ashland Composite Polymers will divest Estonian affiliate distribution business
Advertisement
Ashland Composite Polymers, a business group of Ashland Performance Materials, a division of Ashland Inc., has agreed to divest its composites distribution business related to customers based in Estonia to a subsidiary of GRPMS Limited (GRPMS), part of Umeco plc. The sale, which includes property, inventory and other fixed assets related to the distribution businesses in Estonia, is a cash transaction that is expected to close around August 31. The final purchase price will be subject to a standard inventory value adjustment. All employees associated with the distribution business will then transfer to GRPMS.
As part of the agreement, GRPMS becomes sole distributor for Ashland Composite Polymers resin and gelcoat products. This expands the relationship between Ashland and GRPMS, which currently includes similar distribution agreements established in July 1998 for Great Britain and in July 2005 for Norway, Sweden and Denmark.
Most read news
Other news from the department business & finance
Get the chemical industry in your inbox
By submitting this form you agree that LUMITOS AG will send you the newsletter(s) selected above by email. Your data will not be passed on to third parties. Your data will be stored and processed in accordance with our data protection regulations. LUMITOS may contact you by email for the purpose of advertising or market and opinion surveys. You can revoke your consent at any time without giving reasons to LUMITOS AG, Ernst-Augustin-Str. 2, 12489 Berlin, Germany or by e-mail at revoke@lumitos.com with effect for the future. In addition, each email contains a link to unsubscribe from the corresponding newsletter.