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WILMINGTON, Del., Could 25, 2021 (GLOBE NEWSWIRE) — Ashland International Holdings Inc. (NYSE: ASH), immediately introduced a strategic assessment of its efficiency adhesives enterprise unit. Ashland intends to guage all choices with respect to the enterprise unit, together with a possible sale. The choice is in keeping with the corporate’s technique to develop its built-in additive elements portfolio targeted on its management positions in its core pharma, private care, and coatings companies.
“Ashland’s efficiency adhesives enterprise unit has demonstrated distinctive monetary efficiency with a powerful and devoted enterprise staff who excel at options in key area of interest markets,” stated Guillermo Novo, chairman and chief govt officer, Ashland. “The enterprise has useful merchandise with differentiating efficiency for purchasers throughout quite a lot of functions and markets. The staff has just lately launched improvements which present thrilling progress potential for this distinctive enterprise.”
Novo stated he expects the mix of sturdy financing availability, low rates of interest and bettering world macroeconomic circumstances to create a supportive backdrop for a possible sale of the enterprise unit.
The corporate plans to extend capital deployment towards its core components portfolio consisting of life sciences, private care and family and specialty components. Precedence shall be given to broaden its high-value prescribed drugs and private care companies, to reinforce shareholder worth via improved margins and targeted progress capital deployment, together with potential bolt-on acquisitions.
Ashland just lately acquired the Schülke & Mayr private care enterprise which underscores the corporate’s technique for progress in its core end-markets. The mixing is continuing as deliberate.
As Ashland continues to accentuate its dedication to setting, social and governance (ESG), the corporate is rising its improvement of differentiated elements improvements and distinctive customized specialty options for accountable progress aligned with client market traits. Sustainably fixing complicated challenges for purchasers will assist additional amplify the efficacy, refine the usability, add to the attract, make sure the integrity, and enhance the profitability of their merchandise and functions.
Ashland anticipates finishing the strategic assessment by the tip of calendar 12 months 2021. The corporate has retained Citi to help within the strategic assessment course of.
About Ashland
Ashland International Holdings Inc. (NYSE: ASH) is a premier specialty supplies firm with a aware and proactive mindset for sustainability. The corporate serves clients in a variety of client and industrial markets, together with adhesives, architectural coatings, automotive, building, power, meals and beverage, nutraceuticals, private care and pharmaceutical. Roughly 4,200 passionate, tenacious solvers – from famend scientists and analysis chemists to proficient engineers and plant operators – thrive on growing sensible, revolutionary and chic options to complicated issues for purchasers in additional than 100 nations. Go to ashland.com and ashland.com/sustainability to study extra.
Ahead-Trying Statements
This information launch comprises forward-looking statements throughout the which means of Part 27A of the Securities Act of 1933, as amended and Part 21E of the Securities Alternate Act of 1934, as amended. Ashland has recognized a few of these forward-looking statements with phrases resembling “anticipates,” “believes,” “expects,” “estimates,” “is probably going,” “predicts,” “tasks,” “forecasts,” “goals,” “could,” “will,” “ought to,” “plans” and “intends” and the detrimental of those phrases or different comparable terminology. These forward-looking statements embody, however are usually not restricted to, statements referring to our expectation to execute the strategic options efficiently or that the completion of the method will allow Ashland to efficiently deal with its core companies. As well as, Ashland could infrequently make forward-looking statements in its annual experiences, quarterly experiences and different filings with the SEC, information releases and different written and oral communications. These forward-looking statements are based mostly on Ashland’s expectations and assumptions, as of the date such statements are made, relating to Ashland’s future working efficiency and monetary situation, the strategic and aggressive benefits of the anticipated acquisition, in addition to the economic system and different future occasions or circumstances. Ashland’s expectations and assumptions embody, with out limitation, inner forecasts and analyses of present and future market circumstances and traits, administration plans and methods, working efficiencies and financial circumstances (resembling costs, provide and demand, value of uncooked supplies, and the flexibility to get well raw-material value will increase via worth will increase), and dangers and uncertainties related to the next: Ashland’s substantial indebtedness (together with the likelihood that such indebtedness and associated restrictive covenants could adversely have an effect on Ashland’s future money flows, outcomes of operations, monetary situation and its skill to repay debt); the influence of acquisitions and/or divestitures Ashland has made or could make, together with the acquisition of Schülke & Mayr’s private care enterprise (together with the likelihood that Ashland could not understand the anticipated advantages from such transactions); and extreme climate (together with the current US Gulf Coast storm), pure disasters, public well being crises (together with the present COVID-19 pandemic) and authorized proceedings and claims (together with environmental and asbestos issues). Varied dangers and uncertainties could trigger precise outcomes to vary materially from these acknowledged, projected or implied by any forward-looking statements, together with, with out limitation, dangers and uncertainties affecting Ashland which might be described in Ashland’s most up-to-date Kind 10-Ok (together with Merchandise 1A Danger Components) filed with the SEC, which is on the market on Ashland’s web site at https://investor.ashland.com or on the SEC’s web site at https://www.sec.gov. Ashland believes its expectations and assumptions are cheap, however there may be no assurance that the expectations mirrored herein shall be achieved. Until legally required, Ashland undertakes no obligation to replace any forward-looking statements made on this information launch whether or not on account of new data, future occasions or in any other case. Info on Ashland’s web sites is just not included into or part of this information launch.
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FOR FURTHER INFORMATION:
Investor Relations: Media Relations:
Seth A. Mrozek Carolmarie C. Brown
+1 (302) 594-5010 +1 (302) 995-3158
samrozek@ashland.comccbrown@ashland.com
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