Printer Friendly

ASHLAND SUBSIDIARY TO ACQUIRE UNOCAL CHEMICALS DISTRIBUTION BUSINESS

ASHLAND SUBSIDIARY TO ACQUIRE UNOCAL CHEMICALS DISTRIBUTION BUSINESS
 ASHLAND, Ky., Nov. 8 /PRNewswire/ -- Ashland Oil, Inc., (NYSE: ASH) announced today that its Ashland Chemical Inc. subsidiary has reached an agreement in principle with Unocal Corporation (NYSE: UCL) to acquire most of Unocal's chemical distribution business.
 Terms of the transaction were not disclosed.
 Completion of the transaction is subject to execution and closing of a definitive agreement and obtaining required governmental approvals.
 Unocal's chemical business involves the distribution of a wide range of organic chemicals, hydrocarbon solvents and specialty and inorganic products through a nationwide network of distribution centers and bulk terminals.
 "The acquisition of Unocal's chemical distribution operations provides an excellent geographic combination with Ashland Chemical's existing Industrial Chemicals & Solvents Division network," said John R. Hall, Ashland chairman and chief executive officer. "In addition to expanding Ashland's chemical distribution business, we will be gaining an experienced customer service organization in compatible products and markets."
 Ashland Oil, Inc., is a diversified energy corporation engaged in petroleum refining, transportation and marketing; retail gasoline marketing; motor oil marketing; chemicals; coal; highway construction; and oil and gas exploration and production. With sales of $2.3 billion in its fiscal 1991, Ashland Chemical, Inc., is engaged in chemical and plastics distribution, specialty chemicals and petrochemicals.
 -0- 11/8/91
 /CONTACT: Dan Lacy of Ashland Oil, Inc., 606-329-3148/
 (ASH UCL) CO: Ashland Oil, Inc.; Ashland Chemical, Inc.; Unocal Corporation ST: Kentucky IN: OIL CHM SU: TNM DM -- PG002 -- 2477 11/08/91 08:39 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 8, 1991
Words:249
Previous Article:UNION OIL CO. OF CALIFORNIA REACHES AGREEMENT WITH ASHLAND CHEMICAL
Next Article:CAMBRIDGE NEUROSCIENCE, INC. SELLS 1.5 MILLION SHARES OF COMMON STOCK
Topics:


Related Articles
UNION OIL CO. OF CALIFORNIA REACHES AGREEMENT WITH ASHLAND CHEMICAL
UNOCAL CORP. AND CHEVRON CHEMICAL CO. SIGN AGREEMENT
UNOCAL CORP.'S SUBSIDIARY, UNION OIL COMPANY OF CALIFORNIA, COMPLETES PURCHASE
UNOCAL SUBSIDIARY SIGNS AGREEMENT WITH ASHLAND CHEMICAL
UNOCAL ANNOUNCES DISCUSSIONS ARE UNDER WAY WITH POTENTIAL BUYERS FOR PUREGRO COMPANY SUBSIDIARY
ARISTECH CHEMICAL UNSATURATED POLYESTER RESINS SELL TO ASHLAND CHEMICAL
ASHLAND CHEMICAL, ARISTECH ANNOUNCE LETTER OF INTENT
OWENS-CORNING COMPLETES SALE OF ITS COMPOSITE DISTRIBUTION BUSINESS IN CANADA
Ashland Earns $2.97/Share in Fiscal T96
Ashland Chemical Company Completes Acquisition Of Gwil Industries' Plastics Division

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters