Ashland to sell food, Pharma ingredients to Mitsubishi.(business & finance news)(Brief Article)

Chemical Week, September, 2004 by Westervelt, Robert

Ashland says it has signed an agreement to sell Ashland Distribution's ingestibles business, which includes food and beverage additives and pharmaceutical actives and excipients, to Mitsubishi Corp. Terms were not disclosed. The deal is expected to be completed by year-end.

Ashland Distribution will continue to service customers in the personal care and cosmetics industries, Ashland says. "The ingestibles line of business represents less than 4% of Ashland Distribution's total sales, and there is not much overlap between it and our other lines of business," says Hank Waters, Ashland Distribution president. "We believe that the business, and its employees, will be much better off as part of an organization that has a strong commitment to this line of business."...

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