Troy Corp acquires Ashland's industrial biocides assets

Troy Corporation, a global leader in microbial control products and performance additives, has acquired industrial biocides assets of Ashland Specialty Ingredients for an undisclosed amount. The transaction is expected to close within 60 days, contingent on standard closing conditions and completion of required employee information and consultation processes.
 
Industrial biocides - which help control and prevent the growth of bacteria, mould and other microorganisms in a wide range of coatings, construction materials and energy products - accounted for approximately two percent of Ashland Specialty Ingredients' sales for the 12 months ended March 31, 2015.
 
Specialty Ingredients' lineup of preservatives products, which is focused on consumer markets, is excluded from the agreement with Troy. Ashland is committed to retaining and growing that strategic business.
 
W Brian Smith, vice president, Troy Corporation, said,  “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.”
 
Luis Fernandez-Moreno, Ashland senior vice president and president of Ashland's Chemicals Group, said, “This divestiture reflects our continued focus on driving growth within the higher-margin core businesses where we offer greater value to our customers. As a smaller player within the industrial biocides market, Ashland has lacked the critical mass needed to be successful.”