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4/7/2017

Ashland to buy Reichhold’s composites resin plant in France

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The facility, which employs about 50 people, manufactures unsaturated polyester resins (UPR) used in a variety of end markets, including transportation and construction.

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Ashland Global Holdings (Covington, Ky.) will acquire Reichhold's (Research Triangle Park, NC) composites resin plant in Étain, France. Price and other terms were not disclosed. The signing of a definitive agreement is subject to labor consultation, and the acquisition is subject to regulatory approvals and other customary closing conditions.

The facility, which employs about 50 people, manufactures unsaturated polyester resins (UPR) used in a variety of end markets, including transportation and construction. Reichhold said the proposed transaction is an integral part of the program to achieve closing of its previously announced combination with Polynt.

"This transaction is a unique opportunity to strengthen Ashland's position in the European composites market at a highly attractive price, and with very compelling terms and conditions," said Andy Johnston, group vice president of composites for Ashland. "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."

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