Air products sells final assets of polymers business.

Air Products, Lehigh Valley, PA, has sold its non-pressure emulsions businesses and related production facilities in Elkton, MD and Piedmont, SC, to Ashland Inc., Covington, KY. This sale marks the disposal of the final assets tied to Air Products Polymers. The Piedmont facility manufactures Flexcryl pressure sensitive adhesives. The Elkton plant produces atmospheric emulsions that are used in paint, adhesives, and paper coatings. Approximately 80 employees will be offered employment with Ashland, which plans to continue operations at the Piedmont and Elkton facilities. As reported in the February 2008 issue of CoatingsTech, Air Products sold its interest in Air Products Polymers to Wacker Chemie AG, its partner in the venture, in January of this year. As part of the sale, Air Products acquired full ownership of the Elkton and Piedmont facilities. Air Products and Ashland expected the sale of the non-pressure emulsions businesses to be completed by the end of June.