Air Products to acquire Ashland chemicals business

June 30, 2003 – Lehigh Valley, PA – Air Products has agreed to acquire the electronic chemicals business of Ashland Specialty Chemical Co., a division of Ashland Inc., Covington, KY, for $300 million in cash.

The deal expands Air Products’ position in high-growth specialty materials, as well as the company’s presence in Asia, according to Gerald Ermentrout, VP and GM of Air Products’ electronics division.

Ashland’s electronic chemical business supplies photoresist strippers, etch residue strippers and low-k dielectric and copper strippers, high-purity process chemicals, copper plating solutions, CMP slurries and post-CMP cleaners, and fab services.


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