Kentucky, US-headquartered specialty chemicals firm Ashland, recently announced the completion of the sale of its elastomers business, based in Port Neches, Texas, to US synthetic rubber specialist, Lion Copolymer. Financial terms were not disclosed.
The elastomers business, which primarily serves the North American replacement tyre market, accounted for approximately 18% of Ashland Performance Materials’s US$1.6 billion in sales in fiscal 2014. Ashland operates a 250-person manufacturing facility in Port Neches that serves elastomers customers.