Ashland purchases DERAKANE epoxy vinyl ester resin business from Dow
Ashland Composite polymers, a business group of Ashland Specialty Chemical has expanded its technology assets by signing an agreement to purchase the DERAKANE epoxy vinyl ester resin business 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).
The proven performance of DERAKANE and DERAKANE MOMENTUM technologies for use in fiber reinforced plastics (FRP) applications requiring outstanding corrosion resistance and structural strength complements Ashland's current product portfolio of thermoset resins.
"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."
The purchase includes all technology assets associated with the DERAKANE business. No physical assets will transfer to Ashland. The closing, which is anticipated to take place in late 2004 or early 2005, is conditional upon a number of standard closing conditions, including several regulatory reviews.
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