Ashland Specialty Chemical Company Purchases Remaining

Ashland Specialty Chemical Company, a division of Ashland Inc. (NYSE: ASH), purchased the remaining 50% ownership in its Austrian joint venture company Donau Drew from Donau Chemie on May 31, 1999. Ashland Specialty Chemical Company is headquartered in Dublin, Ohio, U.S. Donau Chemie is headquartered in Vienna. Terms of the share purchase agreement were not announced. The original joint venture was formed in 1990. The company will operate as a wholly owned affiliate company of Ashland Inc. within Ashland Specialty Company's Drew Industrial Division. The company will supply products for industrial water treatment, cooling, boiler, wastewater and specific process chemicals and will service markets in Austria and the former East-European region. According to James A. Duquin, president of Ashland Specialty Chemical Company, "The Austrian operation provides us with further access to develop this region which is a strategic growth area for Ashland's Drew Industrial Division. We look forward to continuing to provide quality products and services to our existing and future customers in this region." The Drew Industrial Division is a major supplier of specialty products and services for the worldwide industrial water treatment, commercial and institutional water treatment, wastewater treatment, pulp and paper processing, mining and paint and coatings markets. Ashland Specialty Chemical Company, a division of Ashland Inc., is a leading, worldwide supplier of specialty chemicals serving industries including adhesives, automotive, composites, foundry, merchant marine, paint, paper, plastics, and semiconductor. Visit our Internet web site at www.ashspec.com or www.ashchem.com to learn more about these operations. Ashland Inc. is a diversified company with wholly owned operations in distribution, specialty chemicals, motor oil and car care products, and highway construction. Ashland Distribution Company is the largest distributor of chemicals, plastics and fiber reinforcements in North America, a leading distributor of fine ingredients in North America, and a leading Pan-European distributor of plastics. Valvoline's major consumer brands include Valvoline(R) motor oils, Eagle One(R) appearance products, Zerex(R) antifreeze and Pyroil(R) Performance Products automotive chemicals. APAC is the nation's largest highway contractor with operations in 14 southern and midwestern states. Ashland also has a 38-percent equity interest in Marathon Ashland Petroleum LLC and a majority equity interest in Arch Coal, Inc. (NYSE: ACI). Ashland Inc.'s Internet address is http://www.ashland.com . (R)Registered Trademark, Ashland Inc. ots Original Text Service: Ashland Inc. Internet: http://www.newsaktuell.de Contact: Stacie Noel of Ashland Inc., 614-790-3446 Company News On-Call: http://www.prnewswire.com/comp/065263.html or fax, 800- 758-5804, ext. 065263 Web site: http://www.ashspec.com Web site: http://www.ashchem.com Web site: http://www.ashland.com

Keywords

Region
Prague, Central Bohemia region and Czech Republic

Category

RECEIVING PRESS RELEASES
Subscribe for free

Important notice:
Subscribers please note that material bearing the label "PROTEXT" is not part of CTK's news service and is not to be published under the "CTK" label. Protext is a commercial service providing distribution of press releases from clients, who are identified in the text of Protext reports and who bear full responsibility for their contents.