Ashland Inc., the Covington-based specialty chemicals company, says it has completed the previously announced sale of its polyvinyl acetate homopolymer and copolymer, or PVAc, business to Celanese Corp.
The proposed transaction included the transfer of the PVAc business, inventory and related technology. The sale does not include any real estate or manufacturing facilities, according to a news release from Ashland. No purchase price was disclosed.
Ashland's PVAc business includes two brands, Flexbond and Vinac emulsions. Vinac products are used to make adhesives for use in woodworking and paper packaging. Flexbond products are used to make architectural paints.
Ashland Performance Materials is the global leader in unsaturated polyester resins and vinyl ester resins, the company said.