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Ashland to Sell Synlubes, Emulsions Product Lines to Separate Buyers

7:26 AM MST | November 18, 2011 | —Robert WEstervelt

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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