Friday, May 29, 2015
- Florham Park, NJ – Troy Corporation announced today that it has signed a definitive agreement to acquire the industrial biocides business from Ashland Inc. (NYSE: ASH). The transaction is expected to close within 60 days, contingent on standard closing conditions and completion of required employee information and consultation processes. Financial terms were not disclosed.
Ashland Specialty Ingredients’ industrial biocides business was formerly owned and operated by ISP, Inc., and includes the Fungitrol™ brand of dry-film preservatives and Nuosept™ brands which are supplied to the paint & coatings industry, as well as allied markets. The company’s Consumer Specialties business unit, which includes preservatives for the personal care market, is not part of the agreement with Troy
“Troy prides itself on innovation and premium service to its customers,” said W. Brian Smith, Vice President, Troy Corporation. “With the addition of Ashland’s industrial biocides business, Troy’s premier portfolio of preservatives will be enhanced, delivering even more value, performance, and sustainability to the marketplaces served.”
For more information on these and other advanced products from Troy, visit Booth 518 at the Eastern Coatings Show in Atlantic City, New Jersey from June 1-4, 2015, or go to www.troycare.com
Troy Corporation develops and manufactures specialty materials that enhance the properties and performance of its customers’ products and processes, and is committed to helping manufacturers meet global requirements for compliance and sustainability. Founded in 1950, Troy is headquartered in Florham Park, New Jersey with sales offices throughout the United States, Canada, Europe, Asia, and Latin America. Troy materials are used and available in over 100 countries worldwide.For Further Information Please Contact: Geoff Clay
Troy Corporation, 8 Vreeland Road, Florham Park, NJ 07932
973.443.4200 Ext 2581 or e-mail:email@example.com