Ashland announces new composites distribution agreements for operations in Europe

BARCELONA, Spain - Ashland Performance Materials, a commercial unit of Ashland Inc. (NYSE: ASH), today announced new distribution agreements that cover its leading resin chemistries and technology solutions for composite manufacturing in the Europe.

Effective immediately, Cathay Investments completed the acquisition of Umeco Distribution from Cytec Industries Inc. to form Cathay Composites. Cathay Composites will continue Ashland's distribution and agency accounts, retaining the existing management and organizational structure in the United Kingdom, Scandinavia, Estonia and Finland. Cathay Composites will distribute Ashland's full line of polyester and vinyl ester resins, premium gelcoats and low-profile additives to the, marine, building and construction and transportation markets.

"We are excited to continue our long-standing, successful relationship with Umeco, now named Cathay Composites," said Andrew Miller, sales director composites, Ashland Performance Materials, EMEA. "Together, we offer our customers a broad portfolio of industry-leading product lines. We look forward to leveraging the local knowledge of our new partner to deliver clear best-in-class composites products and services."

"These agreements represent a major step in our continued focus on supply and service capabilities at the local level for customers in these challenging and growing markets," said Brian Harpur, managing director, Cathay Composites. "We will continue to provide local expertise and service to ensure customers benefit from Ashland's comprehensive range of Composites solutions."

Additionally, effective immediately, Quimidroga France will take over Ashland's distribution and agency accounts from Umeco, and will distribute Ashland's full line of polyester and vinyl ester resins and premium gelcoats and low-profile additives to the composites market in France. Quimidroga currently distributes Ashland's complete portfolio of composites products to manufacturers in Spain, Portugal and North Africa.

"We are delighted to expand our existing successful partnership with Quimidroga to include France," said Andrew Miller. "Quimidroga is well established as a leading distributor serving the composites market. We are jointly committed to driving innovation and identifying ways to improve service levels to our customers. All parties will work together to ensure a seamless transition with no disruption in customer service."

"We are excited for this opportunity to expand on our relationship with Ashland," said Eduardo Parella, Industrial Specialties Area Manager, Quimidroga. "Ashland's portfolio of technologies is recognized in the industry for their performance and versatility in a variety of applications, and we are committed to delivering improved logistics and technical service capabilities to composites customers in France".

About Cathay Investments
The Cathay group of companies specialises in the chemical distribution and supply sector. In addition to Cathay Composites, Cathay Investments also owns Wardel Chemicals Ltd and Marpex Chemicals Ltd. Those companies, both of which have been trading for more than 25 years, supply materials used in coatings and personal care products, to markets across Africa and the Middle East.

About Quimidroga
Quimidroga, founded in 1944, is the leading distributor of a wide range of chemicals in the Iberian Peninsula, including industrial products like solvents, monomers, intermediates, inorganics as well as specialty chemicals for sectors as varied as food, feed, agricultural, pharmaceutical, cosmetics, detergents, water treatment, paper, reinforced plastics/composites, construction, coatings, adhesives, inks, polyurethanes and lubricants.

In addition to Spain, Portugal and France, Quimidroga is also serving other Mediterranean as well as Northern African countries. Quimidroga is committed to best-in-class customer service, secured through various regional and local warehousing sites, including a state of the art 68.000 m² warehouse in the port of Barcelona with a capacity of 30.000 tons of packet products and 12.000 m³ in 155 tanks.

About Ashland Performance Materials
Ashland Performance Materials is the global leader in unsaturated polyester resins and vinyl ester resins. In addition, it provides customers with leading technologies in gelcoats, pressure-sensitive and structural adhesives, coatings and elastomers.

About Ashland
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 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.

FOR FURTHER INFORMATION:
Media relations
Jennifer Knoblach
+31 (0)10 497 5529
jknoblach@ashland.com