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news.Ashland, a specialty chemical solutions provider, has acquired International Specialty Products (ISP), a specialty chemical manufacturer of functional ingredients and technologies for $3.2bn.
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As part of this acquisition, ISP will be merged into Ashland Aqualon Functional Ingredients commercial unit and the combined unit will be known as Ashland Specialty Ingredients.
Ashland chairman and CEO James O’Brien said this transaction is expected to be immediately accretive and will expand their position in higher-margin, higher-growth end markets, including personal care, pharmaceutical, food and beverage and energy.
"This acquisition enhances our ability to satisfy the increasing global demand for more technologically advanced consumer and industrial products, and to continue to generate innovation and solutions for our customers," O’Brien said.