Ashland sell industrial biocides assets Troy Corp

Ashland to sell industrial biocides assets to Troy Corp

5:48 AM, 31st May 2015
Ashland to sell industrial biocides assets to Troy Corp

COVINGTON, US: Ashland Inc said it has agreed to sell it’s industrial biocides assets to Troy Corporation, the microbial control products and performance additives firm, to focus on growing its higher-margin core businesses. The transaction is expected to close within 60 days and financial terms were not disclosed by the companies.

Industrial biocides (part of Ashland specialty ingredients), accounted for approximately two percent of specialty ingredients’ sales for the 12 months ended 31 March.

Specialty ingredients’ lineup of preservatives products, which is focused on consumer markets, is excluded from the agreement with Troy, said Ashland.

“This divestiture reflects our continued focus on driving growth within the higher-margin core businesses. As a smaller player within the industrial biocides market, Ashland has lacked the critical mass needed to be successful. Troy is better positioned to capitalize on growth opportunities within this segment,” said Luis Fernandez-Moreno, Ashland senior vice president and president, Ashland’s Chemicals Group.

“With the addition of Ashland’s industrial biocides business, Troy’s premier portfolio of preservatives will be enhanced, delivering even more value, performance, and sustainability to the marketplaces served,” said W Brian Smith, vice president, Troy Corporation.

The Industrial biocides help control and prevent the growth of bacteria, mold and other microorganisms in a wide range of coatings, construction materials and energy products, it said.

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