Ashland completes sale of elastomers business to Lion Copolymer

The US-based specialty chemicals maker Ashland Inc has announced that it has completed the sale of its elastomers business, based in Port Neches, Texas, to Lion Copolymer Holdings, LLC. Financial terms were not disclosed.
 
The elastomers business, which primarily serves the North American replacement tyre market, accounted for approximately 18 percent of Ashland Performance Materials' $1.6 billion in sales in fiscal 2014. Ashland operates a 250-person manufacturing facility in Port Neches that serves elastomers customers.
 
"We are pleased with the value we received for the business and believe this transaction represents a good strategic fit for Lion," said James O'Brien, chairman and chief executive officer, Ashland.