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Business

Air Products Selling Adhesives to Ashland

June 16, 2008 | APPEARED IN VOLUME 86, ISSUE 24

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Credit: Air Products
Air Products' pressure-sensitive adhesives are used in label manufacturing.
8624bconairprod.jpg
Credit: Air Products
Air Products' pressure-sensitive adhesives are used in label manufacturing.

Air Products & Chemicals has agreed to sell its business in pressure-sensitive adhesives and nonpressure emulsions to Ashland for $92 million. The business includes plants in Elkton, Md., and Piedmont, S.C., and had sales last year of $126 million, mainly in North America. It was part of a former joint venture with Wacker Chemie; earlier this year, Air Products sold most of its share in the venture to Wacker for $265 million. Marcello Boldrini, vice president of Ashland's performance materials unit, says Air Products' water-based emulsion technology complements existing Ashland solution technology and the ultraviolet/electron-beam cure technology it acquired from Northwest Coatings a year ago.

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