Carbonyl iron powder producer, International Specialty Products Inc.(ISP), has been acquired by Ashland Inc., for $3.2 billion.
ISP, a specialty chemical manufacturer of innovative functional ingredients and technologies, manufacture fine Carbonyl Iron powder for a range of uses including MIM and PM applications.
“This defining transaction is expected to be immediately accretive and will significantly expand our position in higher-margin, higher-growth end markets, including personal care, pharmaceutical, food and beverage and energy,” said James J. O’Brien, Ashland chairman and chief executive officer.
“We are excited about combining ISP’s technologies and capabilities with our own. This acquisition enhances our ability to satisfy the increasing global demand for more technologically advanced consumer and industrial products, and to continue to generate industry-leading innovation and solutions for our customers,” continued O’Brien.
ISP will be integrated into the Ashland Aqualon Functional Ingredients commercial unit, more than doubling the size of Ashland’s highest-margin business. Effective immediately, the combined unit will be called Ashland Specialty Ingredients.
Edited by: Paul Whittaker, Editor ipmd.net, [email protected]