SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): December 29, 2004
ASHLAND INC.
(Exact name of registrant as specified in its charter)
Kentucky
(State or other jurisdiction of incorporation)
1-2918 61-0122250
(Commission File Number) (I.R.S. Employer
Identification No.)
50 E. RiverCenter Boulevard, Covington, Kentucky 41012-0391
(Address of principal executive offices) (Zip Code)
P.O. Box 391, Covington, Kentucky 41012-0391
(Mailing Address) (Zip Code)
Registrant's telephone number, including area code (859) 815-3333
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events
Ashland Inc. ("Ashland") announced today that Ashland Composite
Polymers, a business group of Ashland Specialty Chemical, a division of
Ashland, has completed its purchase of the DERAKANE* epoxy vinyl ester
resin business (which includes the DERAKANE MOMENTUM* product line) from
The Dow Chemical Company in a cash transaction valued at approximately $90
million. Details of the transaction are included in the attached press
release, which is attached hereto as Exhibit 99.1.
* Trademark of The Dow Chemical Company
Item 9.01. Financial Statements and Exhibits
(c) Exhibits
99.1 Press Release dated December 29, 2004
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
ASHLAND INC.
-------------------------------------------
(Registrant)
Date: December 29, 2004 /s/ J. Marvin Quin
--------------------------------------------
Name: J. Marvin Quin
Title: Senior Vice President and
Chief Financial Officer
EXHIBIT INDEX
99.1 Press Release dated December 29, 2004
EXHIBIT 99.1
News Release
FOR ADDITIONAL INFORMATION:
FOR ADDITIONAL INFORMATION:
Jim Vitak, Ashland Inc.
(614) 790-3715
jevitak@ashland.com
FOR IMMEDIATE RELEASE:
December 29, 2004
ASHLAND COMPLETES PURCHASE OF DERAKANE
EPOXY VINYL ESTER RESIN BUSINESS FROM DOW
DUBLIN, Ohio (USA) - Ashland Composite Polymers, a business group of
Ashland Specialty Chemical, a division of Ashland Inc. (NYSE: ASH), has
completed its purchase of the DERAKANE(R) epoxy vinyl ester resin business
(which includes the DERAKANE MOMENTUM* product line) from The Dow Chemical
Company (NYSE: DOW). The purchase includes all technology and intellectual
property assets associated with the DERAKANE resin business. No physical
assets will transfer to Ashland.
The cash transaction is valued at approximately $90 million (USD).
Annual sales of DERAKANE resins are approximately $70 million (USD).
"This important addition to our thermoset resins portfolio expands
Ashland's leadership in providing integrated systems and technology
solutions with superior value to our customers," said Theodore "Ted" L.
Harris, vice president, Ashland Specialty Chemical, and general manager,
Composite Polymers. "We are committed to working with DERAKANE customers to
ensure a smooth transition."
DERAKANE and DERAKANE MOMENTUM resin products and technologies offer
proven performance for use in fiber-reinforced plastics (FRP) applications
requiring outstanding corrosion resistance and structural strength. They
add increased breadth to Ashland's already broad product line of gel coats,
low profile additives and polyester and vinyl ester resins. For more
information, visit www.derakane.com.
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ASHLAND COMPLETES PURCHASE OF DERAKANE EPOXY VINYL ESTER RESIN BUSINESS -2
About Ashland
Ashland Composite Polymers, a business group of Ashland Specialty
Chemical, is a leader in supplying products, processes and technologies to
the global marketplace in composites and gel coats.
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 transportation construction,
chemicals and petroleum company providing products, services and customer
solutions throughout the world. Find us at www.ashland.com.
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(R) Registered trademark, Ashland Inc.
* Trademark, Ashland Inc.