Ashland completes $90 million DERAKANE purchase
DUBLIN, Ohio – Ashland Composite Polymers, a subsidiary of marine industry resin supplier Ashland Inc., has completed its purchase of the DERAKANE epoxy vinyl ester resin business from Dow Chemical Co., Ashland said in a release yesterday.
The purchase was a cash transaction valued at approximately $90 million, and includes all technology and intellectual property assets associated with the DERAKANE resin business. No physical assets will transfer to Ashland.
Annual sales of DERAKANE resins are approximately $70 million, Ashland said.
“This important addition to our thermoset resins portfolio expands Ashland’s leadership in providing integrated systems and technology solutions with superior value to our customers,” said Theodore “Ted” L. Harris, vice president, Ashland Specialty Chemical, and general manager, Composite Polymers. “We are committed to working with DERAKANE customers to ensure a smooth transition.”
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