Ashland to sell business unit to Perstorp
Sweden-based company Perstorp has, through its subsidiary Perstorp Polyols Inc., signed an agreement with Hercules Incorporated, a subsidiary of specialty chemicals company Ashland Inc., for the acquisition of its Penta business, related technology and certain assets. It does not include the manufacturing plant in Louisiana, Mo., any real estate or employees. The transaction is fully in line with the companies’ strategies going forward and is part of an ambitious investment campaign to increase Polyol production. Ashland said the transaction is part of its strategy to focus on core specialty chemicals product areas. Pentaerythritol (PE) is a building block for the manufacture of alkyd resins, varnishes, PVC stabilizers, olefin antioxidants and other products. The acquisition is subject to fulfillment of certain conditions and is expected to be completed within 60 days.