Specialty chemical producer Ashland Inc. completed its acquisition of privately owned International Specialty Products Inc. (ISP) for $3.2 billon, Ashland said Aug. 23.
The purchase will expand Ashland’s position in higher-margin, higher-growth end markets, said Ashland Chairman and CEO James O’Brien. ISP provides Ashland with expanded access to consumer industrial markets that include personal care, pharmaceutical, food and beverage and energy.
ISP will be integrated into the Ashland Aqualon Functional Ingredients commercial unit, more than doubling the size of Ashland’s highest-margin business.
The combined unit will be called Ashland Specialty Ingredients.
Ashland Specialty Ingredients is expected to contribute roughly half of Ashland’s EBITDA. In addition, approximately half of Ashland’s overall revenues will now be derived outside of North America.
For more information, visit http://www.ashland.com.