Ashland, Inc. announced it has completed the sale of approximately six acres of land located in Ajax, Canada. Ashland sold the land to Sunray Group of Hotels Inc., a real estate developer with a significant portfolio across Canada, in a transaction of (CAD) $12.25 million, with net proceeds of (CAD) $9.2 million. Ashland is selling unutilized land to fund the newly established environmental trust.

“We are continuing to execute our plan to sell valuable land that is not being utilized by the company, and we will place the proceeds in an environmental trust,” said Guillermo Novo, chair and chief executive officer, Ashland. “Our environmental trust is an integral part of our core values and strategy and a clear example of our environment, social, and governance (ESG) commitment.”