Ashland to Divest Industrial Biocides Assets to Troy Corporation

shland Inc. (NYSE: ASH) today announced that it hassigned a definitive agreement to sell the industrial biocides assetswithin Ashland Specialty Ingredients to Troy Corporation, a globalleader in microbial control products and performance additives. Thetransaction is expected to close within 60 days, contingent on standardclosing conditions and completion of required employee information andconsultation processes. Financial terms were not disclosed. Industrial biocides - which help control and prevent the growth ofbacteria, mold and other microorganisms in a wide range of coatings,construction materials and energy products - accounted for approximatelytwo percent of Specialty Ingredients' sales for the 12 months endedMarch 31, 2015. Specialty Ingredients' lineup of preservatives products, which isfocused on consumer markets, is excluded from the agreement with Troy.Ashland is committed to retaining and growing that strategic business. "This divestiture reflects our continued focus on driving growth withinthe higher-margin core businesses where we offer greater value to ourcustomers," said Luis Fernandez-Moreno, Ashland senior vice presidentand president of Ashland's Chemicals Group. "As a smaller player withinthe industrial biocides market, Ashland has lacked the critical massneeded to be successful. Troy is better positioned to capitalize ongrowth opportunities within this segment and we are committed to workingwith them to ensure a seamless transition for our industrial biocidesemployees and customers." "Troy prides itself on innovation and premium service to its customers,"said W. Brian Smith, Vice President, Troy Corporation. "With theaddition of Ashland's industrial biocides business, Troy's premierportfolio of preservatives will be enhanced, delivering even more value,performance, and sustainability to the marketplaces served."