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Ashland sheds water technologies unit in $1.8B sale

Feb 18, 2014 - The Deal Pipeline

Chemicals firm Ashland Inc. said Tuesday it would sell its water technologies business to Clayton, Dubilier & Rice LLCin a deal that valued the unit at $1.8 billion.

Ashland Water Technologies makes specialty chemicals for markets including pulp and paper, power generation, mining, energy, and food and beverage, generating about $1.7 billion in annual sales. The unit has 31 manufacturing facilities spread across 17 countries on five continents, with pulp and paper accounting for about 67% ...