Ashland acquires International Specialty Products $ 3.2 billion

Ashland acquires International Specialty Products for $ 3.2 billion

12:37 PM, 17th June 2011
Ashland acquires International Specialty Products for $ 3.2 billion

COVINGTON/WAYNE, US: Ashland Inc will acquire International Speciality Products (ISP) for approximately $ 3.2 billion in an all-cash transaction. At closing, ISP’s advanced product portfolio will expand Ashland’s position in high-growth markets such as personal care, pharmaceutical and energy. The transaction is expected to close prior to the end of the September quarter.

ISP will bring high-value water soluble polymers and other advanced technologies into Ashland’s functional ingredients business, as well as complementary additives for Ashland’s food and beverage, energy, coatings, adhesives and water treatment markets. The acquisition is expected to strengthen Ashland’s functional ingredients active patent portfolio and its team of R&D scientists.

“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. It broadens Ashland’s presence within attractive growth areas like skin, hair and oral care, which are large and fast-growing segments of the $ 5 billion-plus personal care specialty ingredients market. In addition, we expect to more than double the size of our highest-margin functional ingredients business,” said James J O’Brien, Chairman and CEO, Ashland.

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