Ashland Inc. to sell merchant marine services division

COVINGTON, Ky. — Ashland Inc. will sell its merchant marine services division for about $120 million to lower debt and concentrate on its core chemical businesses, according to a report from the Associated Press.

J.F. Lehman & Co. has agreed to purchase the unit formerly known as Drew Marine.

The merchant marine services unit has about 325 employees and annual revenue of $140 million, Ashland said. The deal is set to close within 60 days.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
EPG Brand Acceleration
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.