Ashland Names Menk to Lead Newly Purchased Degussa Water Business
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DUBLIN, Ohio- Siegfried Menk has been named vice president, Ashland Specialty Chemical, and general manager, Environmental and Process Solutions (E&PS), the new business name for the former water treatment business of Degussa AG. E&PS is a new business group of Ashland Water Technologies, a business of Ashland Specialty Chemical, a division of Ashland Inc. (NYSE: ASH).
Ashland recently announced that it completed its purchase of the water treatment business of Degussa AG, covering North America, South America, Western Europe and most other regions of the world. In the areas where the purchase has not been completed due to pending regulatory authorizations, the parties have undertaken necessary steps to ensure that statutory requirements are met for the expected approvals. The entire transaction is valued at approximately 122 million euros.
"We are very pleased with the additional capabilities this acquisition brings to Ashland, and the leadership Siegfried brings to this business," said Len Gelosa, senior vice president, Ashland Water Technologies. "The technologies and the people coming to Ashland are an excellent strategic fit for our Water Technologies business." Menk held a similar role for the Degussa water treatment business and has held previous leadership positions beginning with vice president and group financial controller for a company integrated into Degussa in 1997.
With this acquisition, Ashland becomes one of the world's leading manufacturers of water treatment chemicals. "This business expansion strengthens our infrastructure and resources in strong existing markets like Europe and the U.S., as well as new growth markets like China, Russia and Brazil," said Gelosa. "It also adds in-house manufacturing of key products and provides leading technology in water soluble polymer chemistry. As a result, we are now better positioned to help our customers reach their objectives in this ever-changing marketplace."
The strong brand products now available through Ashland Water Technologies include PRAESTOL® flocculants, POLYSTABIL® and TALLOFIN® dispersants and antiscalants, ANTISPUMIN® defoamers and PRAESTARET® retention systems. Ashland Water Technologies also becomes one of the largest manufacturers of environmentally-friendly water treatment chemicals. "Ashland's market position and service capabilities offer excellent opportunities for the new products and customer applications," said Siegfried Menk.
Ashland Water Technologies, a business of Ashland Specialty Chemical, is a supplier of chemical and non-chemical water-treatment solutions for industrial, municipal and commercial facilities. It provides industrial, commercial and institutional water treatments, wastewater treatment, pathogen control, paint and coating additives, pulp and paper processing and mining chemistries. In addition, it also provides boiler and cooling water treatments, fuel treatments, welding, refrigeration and sealing products; and fire fighting, safety and rescue products and services for the merchant marine industry.
Ashland Specialty Chemical, a division of Ashland Inc., is a leading, worldwide supplier of specialty chemicals serving industries including adhesives, automotive, composites, metal casting, merchant marine, paint, paper, plastics, watercraft and water treatment. Visit www.ashspec.com to learn more about these operations.
Ashland Inc. (NYSE: ASH) is a FORTUNE 500 chemical and transportation construction company providing products, services and customer solutions throughout the world. To learn more about Ashland, visit www.ashland.com.
