Ashland reviews adhesives
Ashland is to carry out strategic review of its Performance Adhesives business unit, with a sale among the options, aided by Citi. This is expected to be complete by the end of the year. CEO Guillermo Novo said that the business has “demonstrated exceptional financial performance” and that a combination of available finance, low interest rates and improving global macroeconomic conditions should “create a supportive backdrop” for the sale.
The review is described as part of the company’s focus on its core portfolio of additives for life science, personal care, household and speciality applications. Ashland is directing capital investment in these areas, as evinced by the recent acquisition of Schülke & Mayr personal care business. It aims to improve margins and grow in these markets through multiple means, including further bolt-on acquisitions.