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Specialty chemical maker Ashland is considering its options, including a sale, for its water technologies business and has retained Citi to assist in the process. The business contributed 21% of Ashland’s $8.0 billion in sales for the 12 months ending June 30 but only 12% of its before-tax earnings. Separately, the company has initiated a process to sell its elastomers business, which had about $330 million in sales in the same 12-month period.
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