Business

Ashland completes sale of lubrications unit

Ashland Inc., the Covington-based specialty chemicals company, said Wednesday that subsidiary Hercules Inc. has completed the previously announced sale of its aviation and refrigerant lubricants business to Calumet Missouri.

The purchase price was not disclosed. Under the asset purchase agreement, Calumet Missouri, an assignee of Monument Chemicals, obtained a 22-acre parcel that includes the manufacturing plant in Louisiana, Mo.

This is the second sale that Ashland has announced in as many days. On Tuesday, the company said it had completed the sale of its polyvinyl acetate homopolymer and copolymer, or PVAc, business, which includes the brands Flexbond and Vinac emulsions, to Celanese Corp.

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