Ashland has made a binding offer for a composites resin manufacturing facility in France owned by Reichhold Holdings International. The deal is expected to complete by the end of June.
The facility, which manufactures unsaturated polyester resins, employs around 50 people and is located in Etain.
“This transaction is a unique opportunity to strengthen Ashland’s position in the composites market at a highly attractive price, and with very compelling terms and conditions,” said Andy Johnsotn, Group Vice President, Composites. “The Etain facility is centrally located and, together with Ashland’s existing UPR facilities in Spain and Finland, we will be well positioned to deliver enhanced service to our customers and support future growth opportunities across Europe.”