Air Products buys Ashland's chemicals
30 Jun 2003
Air Products has signed a definitive agreement to acquire the Electronic Chemicals business of Ashland Specialty Chemical Company in a cash transaction valued at approximately $300 million.
The acquisition, which is subject to regulatory approvals, is expected to be accretive to earnings in the first year. Closing would follow receipt of regulatory approvals.
Ashland's Electronic Chemicals business is a supplier of ultrapure specialty chemicals used by the electronics industry to make semiconductor devices.
The company provides a range of strippers, high-purity process chemicals (HPPC), copper plating solutions, and chemical mechanical planarisation (CMP) slurries and post-CMP cleaners. In addition, it offers a variety of Fab Services which provide on-site chemical management, parts cleaning, and tool assembly and refurbishment for semiconductor manufacturing plants.
The $200 million Electronic Chemicals business of Ashland has approximately 800 employees and a world-wide network of sales and marketing offices.
