17 August 1998 16:38 [Source: ICIS news]
HOUSTON (CNI)--Ashland Chemical announced Monday it has acquired Canada's Gwil Industries' plastics division for an undisclosed amount in a deal that will give Ashland another 32 000 tonne/year of unsaturated polyester production.
Ashland said its Composite Polymers Division already ranks as the leading North American manufacturer and supplier of unsaturated polyester and vinyl ester resins. It made the purchase through its Canadian subsidiary Ashland Chemical Canada.
The acquired division specialises in the manufacture of unsaturated polyester resins and gelcoats and in the sales and distribution of those products associated with the fibreglass reinforced plastics industry in Western Canada and the US Pacific Northwest.
Under the agreement's terms, Ashland now owns Gwil's existing manufacturing facility in Kelowna, British Columbia and the distribution business currently operating in the US Pacific Northwest, as well as British Columbia and the prairie provinces of Alberta, Saskatchewan, and Manitoba in Canada.
The Gwil division's 70 employees will join Ashland, according to David D'Antoni, president of Ashland Chemical.
Gwil's fibreglass reinforced plastics sales and distribution business will become part of Ashland Chemical's FRP Supply Division.
Ashland declined to reveal the annual sales of any of its divisions or the acquired division.
Gwil is headquartered in Vancouver, British Columbia. Ashland Chemical is based in Dublin, Ohio.
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