Air Products Adhesives Business Sales with Ashland

In order to continue its slimming down of its chemical business unit, Air Products and Chemicals recently agreed to sell the pressure-sensitive adhesive and water-based latex business to Ashland at a price of US$92 million.

Allegedly, the sale of the business involved Air Products and Chemicals's facilities in Elkton, Maryland, and the Piedmont, South Carolina facility. This part of the business last year sales of 126 million US dollars, mainly for North America, it was part of the joint venture between Air Products and Chemicals and WACKER. Earlier this year, Air Products and Chemicals sold most of its joint ventures to WACKER for US$265 million.

In the recent period, Air Products and Chemicals has been selling its chemicals business to focus more on developing the industrial gas and high-tech materials business for the electronics industry. As early as January of this year, the company sold its high-purity chemicals business to KMG Chemicals for US$75 million.

Ashland said that after purchasing this part of the air products and chemicals company, it will help the company to achieve greater development in the resin field. Marcello Boldrini, Ashland’s Vice President of Functional Materials, said that through this transaction, Ashland has stepped into the ranks of top producers of pressure sensitive adhesives. He also said that the acquisition of the water-based latex technology of Air Products and Chemicals, and the UV radiation curing technology that the company acquired from Northwest Coatings a year ago and Ashland's existing solutions can complement each other.

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