ASHLAND PURCHASES EPOXY VINYL ESTER RESIN BUSINESS FROM DOW
November 8, 2004
Ashland Composite Polymers has expanded its technology assets by signing an agreement to purchase the DERAKANE epoxy vinyl ester resin business (which includes the DERAKANE MOMENTUM product line) from The Dow Chemical Company in a cash transaction valued at approximately $92 million (USD). Annual sales of DERAKANE resins are approximated at $70 million (USD). "Over the past two years, Ashland has spent a significant amount of time refining its portfolio of businesses and focusing on technologies - such as thermoset chemistries - that are core to the company's long-term, strategic focus," said Ted Harris, vice president, Ashland Specialty Chemical, and general manager, Composite Polymers. "Ashland's purchase of the DERAKANE resin business is in direct alignment with our long-term strategy to develop integrated systems and technology solutions that offer superior value to our customers."