Ashland Global Holdings Inc. recently announced that it has closed the sale of its maleic anhydride business and manufacturing facility in Neal, W.Va., to AOC Materials LLC. The transaction was valued at $100 million.
“This sale furthers Ashland’s strategic focus on specialty ingredients and improved margins,” said Guillermo Novo, chairman and CEO of Ashland. “I want to thank the employees of the maleic business for their important contributions to Ashland and wish them well as they transition to AOC.”
“We are pleased to bring this business into the AOC family,” said Joe Salley, CEO of AOC. “We welcome our new employees and we are excited about the strategic growth opportunities.”