Covington, Kentucky -- Ashland Inc. has agreed to acquire Hercules Inc. for $3300 million and assumption of $700,000 of debt.
The deal will give speciality chemicals maker Ashland a producer of speciality chemicals, with a significant market position in rheology modifiers, which alter the physical properties of water-based systems. These additives are used across a wide range of industries to make everything from adhesives and paints to foods, pharmaceuticals and personal care products.
Ashland said the sale is expected to be completed by the end of the year.
From Rubber & Plastics News (A Crain publication)