Air Products completes specialties sale to Ashland

01 July 2008 14:56  [Source: ICIS news]

MUMBAI (ICIS news)--Air Products has completed the sale of its pressure sensitive adhesives and atmospheric emulsions businesses and related production facilities in Elkton and Piedmont to Ashland for $92m (€58m), the US-based adhesives firm said on Tuesday.

The Piedmont facility manufactures flexcryl pressure sensitive adhesives while the Elkton plant produces atmospheric emulsions that are used in paint, adhesives, and paper coatings, it said.

"We are pleased to complete this sale to Ashland, who best recognised the value of the employees and assets of this business," Air Products vice president for performance materials, Wayne Mitchell, said.

The 80 employees associated with the business have been offered employment with Ashland, which plans to continue operations at the Piedmont and Elkton facilities.

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By: Staff Reporter
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