COVINGTON, US: Ashland Global Holdings Inc (ASH) said that it has completed the previously announced acquisition of a composites resin manufacturing facility in Etain, France, and its associated business, from Reichhold Holdings International BV.
The facility, which employs approximately 50 people, manufactures unsaturated polyester resins (UPR) used in a variety of end markets, including transportation and construction. Reichhold said the divestiture was an integral part of the program to achieve closing of its previously announced combination with Polynt.
"The addition of the Etain facility strengthens Ashland's position in the European composites market. The Etain technologies in automotive (SMC) and wind energy applications will allow Ashland to supplement the already extensive composites product portfolio in Europe to support our existing and new customers,” said Andy Johnston, group vice president, composites, Ashland.
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Read More: Ashland completes acquisition of Reichhold’s composites facility
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