Ashland to Sell Synlubes, Emulsions Product Lines to Separate Buyers

Ashland has reached separate deals to sell its and aviation and refrigerant lubricants business and polyvinyl acetate (PVA) emulsions unit. Combined revenues from both businesses were just under $100 million in 2010. Ashland agreed to sell its aviation and refrigerant lubricants business, a maker of polyol ester-based synlubes, to privately held Monument Chemicals (Indianapolis). Annual revenue for Ashland’s synlubes business is about $50 million. Terms were not disclosed. Ashland acquired the business as part of its 2008 acquisition of Hercules. The...

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