Ashland sells synlubes and strengthens Cambodia
Chemical and additives specialist, Ashland, has announced the sale of its synlubes operations.
The Kentucky-based company has agreed the sale of its aviation and refrigerant lubricants operation, currently part of its Hercules Inc. subsidiary, to Monument Chemicals for an undisclosed sum.
The business, which generates an annual revenue of around $50m, was acquired when Ashland purchased Hurcules in 2008 and provides polyol and ester-based synthetic lubricants to the aviation and refrigeration industries. The deal includes a manufacturing plant in Louisiana which Monument has stated it will continue to operate. When asked whether Ashland had considered folding the synlubes products into its Valvoline brand, the company stated there was no natural fit or cost benefit.
Meanwhile Ashland has announced the V.H.K. Business Group Co. as its new Cambodian distributor for all Valvoline products. The brand has been available in the country for more than five years and the latest appointment will help the company broaden its domestic market.
At a launch of the new partnership, attended by distributors and customers from more than 15 Asian countries, a Valvoline spokesman stated: ""We see Cambodia and the Southeast Asia region as a very important focus for Valvoline, and that is why we have brought in all of our Asian channel partners."
