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| Monday, 9 January 2012, 22:56 HKT | |
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Source: Ashland Inc. | |
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WILMINGTON, Del., Jan 9, 2012 - (ACN Newswire) - Ashland Inc. (NYSE: ASH) today announced plans to expand production of Polyplasdone(TM) and Polyclar(TM) crosslinked polyvinylpyrrolidone (PVPP) at its manufacturing facility in Texas City, Texas in response to strong demand. The company plans to complete the addition of a new PVPP production unit at the site by late 2013, reinforcing Ashland's leading position in the market and enabling the company to continue supporting the growing needs of its pharmaceutical and beverage customers.
Polyplasdone(TM) PVPP is a synthetic polymer used globally as a tablet disintegrant and drug dissolution aid in a wide variety of over-the-counter and prescription drug products. Beer and wine producers around the world use Polyclar(TM) PVPP as a filter aid during production to improve the clarity and stability of their products during shipping and storage. As a global leader, Ashland currently has two dedicated PVPP manufacturing units located in Calvert City, Ky. and one located in Texas City that enable Ashland to respond to changing market requirements and increase the security of supply to its customers.
"Ashland is committed to having sufficient manufacturing capacity available to help our customers capitalize on future growth opportunities," said John Panichella, president, Ashland Specialty Ingredients. "We acquired International Specialty Products Inc. because of its growth potential and this major capacity expansion demonstrates our positive outlook and our commitment to growing this business. I am extremely excited about the growth opportunities for the PVPP product line."
"This expansion reinforces our commitment to provide high-value ingredients backed with superior technical support," added Jeff Wolff, group vice president, Pharmaceutical and Nutrition Specialties, Ashland Specialty Ingredients. "Over the next few years, Ashland expects steady growth in PVPP driven by an industry need for formulation ingredients that improve the dissolution of poorly soluble drugs and growth in emerging markets generated by increased demand for generic drug products and consumer demographics. Combining its industry-leading position as a producer of PVPP with its multiple technical support labs around the world, Ashland is well-suited to meet this increasing market demand."
Ashland Specialty Ingredients offers industry-leading products, technologies and resources for solving formulation and product performance challenges in key markets including personal care, pharmaceutical, food and beverage, coatings and energy. Using natural, synthetic and semi-synthetic polymers derived from plant and seed extract, cellulose ethers and vinyl pyrrolidones, Ashland Specialty Ingredients offers comprehensive and innovative solutions for today's demanding consumer and industrial applications.
In more than 100 countries, the people of Ashland Inc. (NYSE: ASH) provide the specialty chemicals, technologies and insights to help customers create new and improved products for today and sustainable solutions for tomorrow. Our chemistry is at work every day in a wide variety of markets and applications, including architectural coatings, automotive, construction, energy, food and beverage, personal care, pharmaceutical, tissue and towel, and water treatment. Visit www.ashland.com to see the innovations we offer through our four commercial units - Ashland Specialty Ingredients, Ashland Water Technologies, Ashland Performance Materials and Ashland Consumer Markets.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of U.S. securities laws. These forward-looking statements are based on Ashland's expectations and assumptions as of the date such statements are made. Various risks and uncertainties may cause actual results to differ materially from those stated, projected or implied by any forward-looking statements, including, without limitation, risks and uncertainties affecting Ashland that are described in its most recent Form 10-K filed with the Securities and Exchange Commission. Ashland believes its expectations and assumptions are reasonable, but there can be no assurance that the expectations reflected herein will be achieved. Ashland undertakes no obligation to subsequently update any forward-looking statements made in this news release or otherwise except as required by securities or other applicable law.
FOR FURTHER INFORMATION:
Media Relations
Richard Ruberti
+1-302-594-6850
rrruberti@ashland.com
Investor Relations
David Neuberger
+1-859-815-4454
daneuberger@ashland.com
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ashland Inc. via Thomson Reuters ONE
Copyright (c) Thomson Reuters 2012. All rights reserved.
Topic: Press release summary
Sectors: Financial General
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2012 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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