31 May 2011 12:09 [Source: ICIS news]
LONDON (ICIS)--US-based ?xml:namespace>
The acquisition, which is expected to close before the end of the September quarter and is still subject to approval, will expand
ISP will also strengthen
"This defining transaction enables us to significantly expand our market positions in higher margin, higher growth and less cyclical global markets like personal care and pharmaceuticals,” said Ashland chairman and CEO James O'Brien.
On a pro-forma basis giving effect to the transaction, Ashland would have had combined revenue for the 12 months ended 31 March 31 2011 of around $7.6bn, with nearly half of revenues generated outside North America, the companies said.
The new functional ingredients business is expected to contribute roughly half of
For the 12 months ended 31 March 2011, ISP generated sales of approximately $1.6bn and EBITDA of around $360m.
($1 = €0.70)
For more on Ashland visit ICIS company intelligence
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