Ashland will spend $39m to expand Virginia water chems plant

13 January 2011 16:08  [Source: ICIS news]

HOUSTON (ICIS)--Ashland will invest $39m (€29.6m) to expand its water-treatment chemicals facility in Hopewell, Virginia, the US-based specialty chemicals producer said on Thursday.

The expansion, which will create 15 jobs, will bring in new equipment to raise production capabilities, according to the state of Virginia.

The Hopewell facility is part of Ashland’s Aqualon Functional Ingredients business, which produces hydrocolloids – primarily cellulose ethers, the company said.

The products made by the business manage the physical properties of systems such as rheology control, water retention, bonding strength, film formation, conditioning, deposition and stabilisation, the company said.

Ashland did not comment on the size of the capacity expansion.

Ashland acquired the Hopewell facility from Hercules in 2008.

Virginia Governor Bob McDonnell said he approved a $250,000 performance-based grant from the Virginia Investment Partnership programme for the project.

($1 = €0.76)

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By: Ben DuBose
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