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.

Croda International is to conduct a strategic review of its Performance Technologies and Industrial Chemicals (PTIC) businesses during 2021, to decide on the best ownership structure going forward. Full or partial divestment and a spin-off are all options, the company said.