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Ashland is selling its maleic anhydride business to AOC Materials, a maker of resins for the composites industry, for $100 million. The business, which includes a plant in Neal, West Virginia, was not part of Ashland’s sale of its composites business to Ineos last year. Maleic anhydride is a raw material for unsaturated polyester resins used to form composites. Another composite resin firm, Polynt-Reichhold, recently said it will build a maleic anhydride plant in Illinois to provide raw material for its business.
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