$ASH (Ashland Inc.)

$ASH {{ '2016-02-19T10:38:24+0000' | timeago}} • Announcement

Additives and functional products maker $EMN said its BoD has elected James O'Brien, retired Chairman and CEO of $ASH, as a director.

$ASH {{ '2017-09-06T14:22:36+0000' | timeago}} • Announcement

$ASH will increase the price of its complete portfolio of unsaturated polyester resins, epoxy vinyl ester resins and gelcoats in North America by $0.09/lb. effective Sept 18, 2017, or as contracts allow. This increase is primarily driven by continued escalation of costs in key raw materials and freight, as well as the impact of Hurricane Harvey.

$ASH {{ '2017-08-24T10:56:47+0000' | timeago}} • Announcement

$ASH provided update on impact to operations from Aug. 10 fire at manufacturing facility in Marl, Germany. Early estimates for loss are in the range of $15-20MM, all but several million of which will be recorded in September fiscal quarter. $ASH now sees adjusted EBITDA for the Intermediates and Solvents (I&S) segment of $5-10MM during 4Q17.

$ASH {{ '2017-08-24T10:54:51+0000' | timeago}} • Announcement

$ASH provided an update on the impact to its operations as a result of a fire at its manufacturing facility in Marl, Germany, that led to the shutdown of production operations on August 10. $ASH now estimates that production will be suspended until late September at the earliest, with volume expected to remain somewhat constrained into 1Q18.

$ASH {{ '2017-07-20T11:26:16+0000' | timeago}} • Announcement

$ASH's BoD declared a quarterly cash dividend of $0.225 per share on its common stock. The dividend is payable on Sept. 15, 2017, to shareholders of record on Sept. 1, 2017. As of June 30, 2017, there were 62.4MM shares of its common stock outstanding.

$ASH {{ '2017-07-19T20:47:55+0000' | timeago}} • Announcement

$ASH elected Susan Main and Kathleen Wilson-Thompson as new members of its BoD. This  brings the size of the board to 11 directors. Main has served as SVP and CFO of $TDY, and Kathleen is EVP and global chief human resources officer at $WBA.

$ASH {{ '2017-05-17T21:46:06+0000' | timeago}} • Announcement

$ASH's BoD declared a quarterly cash dividend of $0.225 per share on its common stock. This represents a reduction from the previous quarterly dividend of $0.39 as a result of the recently completed separation of $VVV. The dividend is payable on June 15, 2017 to shareholders of record on June 1, 2017.

$ASH {{ '2017-05-17T20:25:43+0000' | timeago}} • Announcement

$ASH's subsidiary closed acquisition of privately owned Pharmachem Laboratories. $ASH paid $660MM in an all-cash transaction. The acquisition is expected to be accretive to $ASH's EPS in the first year following the close of the transaction.

$ASH {{ '2017-05-15T13:24:46+0000' | timeago}} • Announcement

Ashland LLC, a unit of $ASH unit, seeks to obtain new senior secured term loan A facilities, consisting of a new $250MM 3-year term loan A facility and a new $250MM 5-year term loan A facility, to finance a portion of the consideration for its previously announced, pending acquisition of Pharmachem Laboratories, Inc.

$ASH {{ '2017-05-15T13:22:51+0000' | timeago}} • Announcement

$ASH unit Ashland LLC seeks to obtain a new $600MM 7-year senior secured term loan B facility to retire its 3.875% senior notes due 2018. It intends to refinance its existing $800MM senior unsecured revolving credit facility with a new $800MM 5-year senior secured revolving credit facility.

$ASH {{ '2017-05-12T20:55:01+0000' | timeago}} • Announcement

$ASH completed the distribution of 170,000,000 shares of common stock of $VVV as a pro rata dividend on shares of $ASH common stock outstanding on May 5, 2017. Each share of $ASH common stock received 2.745338 shares of $VVV common stock in the distribution. Fractional shares of $VVV common stock were not distributed to $ASH stockholders.

$ASH {{ '2017-05-08T21:56:57+0000' | timeago}} • Announcement

$ASH announced distribution ratio for final separation of $VVV. Based on the shares of $ASH common stock outstanding as of May 5, 2017, each share of its common stock will receive 2.745338 shares of $VVV common stock in the distribution. Fractional shares of $VVV common stock will not be distributed to $ASH stockholders.

$ASH {{ '2017-04-17T13:30:32+0000' | timeago}} • Announcement

$ASH agreed to buy privately-owned Pharmachem Laboratories Inc. The acquisition is expected to be accretive to $ASH's EPS in the first year following the close of the transaction. BofA Merrill Lynch is acting as financial advisor to $ASH on the transaction and Cravath, Swaine & Moore LLP is acting as legal advisor.

$ASH {{ '2017-04-17T13:29:39+0000' | timeago}} • Announcement

$ASH agreed to buy privately-owned Pharmachem Laboratories Inc., a provider of ingredients to the global health and wellness industries. $ASH will pay $660MM in an all-cash transaction that is expected to be completed before the end of the June quarter. The acquisition will be funded with bank financing and available cash.

$ASH {{ '2017-04-06T17:52:42+0000' | timeago}} • Announcement

$ASH has made a binding offer to acquire a composites resin manufacturing facility in Etain, France, from Reichhold Holdings International B.V. The transaction is expected to be completed by the end of June.

$ASH {{ '2017-02-21T16:43:20+0000' | timeago}} • Announcement

$ASH said the roles and responsibilities of Luis Fernandez-Moreno, SVP and president, Chemicals Group, and Greg Elliott, VP and chief human resources and communications officer, have been consolidated under other members of its executive leadership team.

$ASH {{ '2017-02-21T16:42:35+0000' | timeago}} • Announcement

$ASH announced a consolidation of executive roles as part of its ongoing plan to drive profitable growth as a pure-play specialty chemicals company following the planned final separation of $VVV this spring.

$ASH {{ '2017-01-27T19:33:44+0000' | timeago}} • Webcast

$ASH expects Ashland Specialty Ingredients FY17 adjusted EBITDA to be $480-510MM. For 2Q17, ASI sales are expected to be approx. $530-545MM and adjusted EBITDA margins are expected to be 24-25%. For FY17, Ashland Performance Materials  adjusted EBITDA is expected to be $95-105MM. $ASH expects APM sales to be $230-250MM in 2Q17.

$ASH {{ '2017-01-27T19:24:00+0000' | timeago}} • Webcast

In 1Q17, $ASH’s Specialty Ingredients segment sales grew 1% to $482MM and volumes rose 6% when compared to the prior year. Industrial sales grew by 6% and volumes grew by 9% compared to the prior year. Consumer Specialties volume declined by 2% and sales declined 3% largely due to mix, pricing and FX rates.

$ASH {{ '2017-01-27T19:17:17+0000' | timeago}} • Webcast

During 1Q17, through a number of actions including a cash tender offer and open market transactions, $ASH, excluding Valvoline, reduced book debt by an additional $309MM. The company is reducing its expectations for net interest expense in FY17 to $120-130MM. As of December 31, $ASH had cash and borrowing capacity of nearly $1.3Bil.

$ASH {{ '2017-01-27T11:47:10+0000' | timeago}} • Announcement

$ASH reported preliminary 1Q17 results with earnings from continuing operations of $10MM, which includes $11MM of earnings attributable to the company's non-controlling interest in Valvoline Inc., on sales of nearly $1.2Bil. Loss from continuing operations attributable to $ASH was $0.01 per diluted share vs. earnings of $1.38 per share a year-ago.

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