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Ashland acquires Hercules
Specialty chemicals company Hercules Inc. (Wilmington, DE; www.herc.com) has been acquired by Ashland Inc. (Covington, KY; www.ashland.com). Shares of Hercules common stock were exchanged for cash and a 0.093 share of Ashland common stock. This acquisition now gives Ashland a core of three specialty chemical businesses, and the company anticipates an approximate annual run-rate savings of $120 million by eliminating redundancies and capturing operational efficiencies by the end of fiscal year 2010.
Amie Chitwood
December 4, 2008
1 Min Read
.svg?width=850&auto=webp&quality=95&format=jpg&disable=upscale "Ashland acquires Hercules")
A new structure incorporating the former Hercules businesses is composed of five commercial units, including Ashland Performance Materials, the specialty resins business, and Ashland Distribution, a distributor of chemicals, plastics, composite materials, and environmental services. As a result of this transaction, Ashland’s expanded international presence will increase revenue derived outside North America to roughly 35% of the total $10.7 billion of pro forma revenue for the 12 months ended Sept. 30, 2008.
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