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Description of Ashland Inc's Business Segments
ASHLAND SPECIALTY INGREDIENTS
Ashland Specialty Ingredients (Specialty Ingredients) offers industry-leading
products, technologies and resources for solving formulation and product performance
challenges in a variety of markets including personal care, pharmaceutical, food
and beverage, coatings, construction and energy. Using natural, synthetic and
semi-synthetic polymers derived from plant and seed extracts, cellulose ethers
and vinyl pyrrolidones, Specialty Ingredients offers comprehensive and innovative
solutions for consumer and industrial applications.
Specialty Ingredients’ areas of expertise include: organic and synthetic
chemistry, polymer chemistry, surface and colloid science, rheology and microbiology.
Specialty Ingredients’ solutions provide an array of properties, including:
thickening and rheology control, water retention, adhesive strength, binding power,
film formation, conditioning and deposition, colloid stabilization, suspension,
ultraviolet light filtration and color.
Specialty Ingredients is comprised of the following businesses:
Care Specialties – The Care Specialties business is comprised of the Oral
Care, Hair Care, Skin Care and Household product lines.
· Oral Care – Specialty Ingredients’ portfolio of oral care
products deliver active ingredients in toothpaste and mouthwashes; provide bioadhesive
functionality for dentures; deliver flavor, texture and other functional properties;
and provide product binding to ensure form and function throughout product lifecycle.
· Hair Care – Specialty Ingredients’ portfolio of hair care
products include advanced styling polymers, fixatives, conditioning polymers,
emulsifiers, preservatives and rheology modifiers.
· Skin Care – Specialty Ingredients’ portfolio of skin care
products help to detoxify, firm, nourish, revitalize and smooth skin. The Skin
Care line also provides sun care products, including UV filters, water-resistant
agents, and thickeners. Emulsifiers, emollients, preservatives and rheology modifiers
complete the Skin Care product line.
· Household – Specialty Ingredients’ portfolio of products
and technologies are used in many types of cleaning applications, including fabric
care, household and dish washing. Specialty Ingredients’ products are used
in a variety of applications for viscosity enhancement, particle suspension, rheology
modification and stabilization.
Pharmaceutical & Nutrition Specialties – The Pharmaceutical & Nutrition
Specialties business includes the Pharmaceutical and Food and Beverage product
lines.
· Pharmaceutical –
o Excipients and Tablet Coating Systems – Specialty Ingredients is a leading
supplier of excipients and tablet coating systems to the pharmaceutical and nutraceutical
industries. The excipients business offers a comprehensive range of polymers for
use as tablet binders, superdisintegrants and drug solubilizers, as well as a
portfolio of fully formulated, one-step tablet coating systems for immediate release,
sustained release and delayed release solutions.
o Specialty Products – Specialty Ingredients offers a select series of active
ingredients and biopolymers with applications in the pharmaceutical and nutraceutical
industries including an iron supplement that provides for bioavailabilty of iron,
a PVP-iodine antiseptic skin disinfectant for wound treatments, and copolymers
that deliver superior film forming and adhesion properties for spray bandages
and ostomy adhesives.
· Food and Beverage – Specialty Ingredients is a global leader in
cellulosic food ingredients. Its products include premium additives, stabilizers
and gums, which are used in a wide range of ingredient offerings for bakery, beverage,
dairy, desserts and toppings, meat, meat alternatives, pet food, prepared foods,
sauces and savory products, and clarifiers used for wine and beer.
Coatings Specialties – The Coatings Specialties business includes the
Coatings and Biocides product lines.
· Coatings – Specialty Ingredients is a recognized leader in rheology
solutions for waterborne paints and coatings. Products include hydroxyethlcellulose
(HEC), which provides thickening and application properties for interior and
exterior paints, and nonionic synthetic associative thickeners (NSATs), which
are APEO-free liquid synthetics for high performance paints and industrial coatings.
· Biocides – Specialty Ingredients offers a comprehensive line
of biocides and preservatives for paints, coatings and wood care. In addition,
Specialty Ingredients offers a broad portfolio of performance foam control agents,
surfactants and wetting agents, co-binders and dispersants, and pH neutralizers.
Industrial Specialties – The Industrial Specialties business includes
the Construction and Energy product lines.
· Construction – Specialty Ingredients is a major producer and
supplier of cellulose ethers and companion products for the construction industry.
These products control properties such as water retention, open time, workability,
adhesion, stabilization, pumping, sag resistance, rheology properties, strength,
appearance and performance.
· Energy – Specialty Ingredients is a leading global manufacturer
of synthetic-, cellulose-, and guar-based products for drilling fluids, oil
well cement slurries, completion and workover fluids, fracturing fluids and
production chemicals. Specialty Ingredients offers the oil and gas industry
solutions for drilling, stimulation, completion, cementing and production applications.
Performance Specialties – The Performance Specialties business provides
products and services to over 30 industry-focused business segments. It offers
a broad spectrum of organo- and water-soluble polymers that are derived from
both natural and synthetic resources. Its product lines include derivatized
cellulose polymers, synthetics, guar and guar derivatives that impart effective
functionalities to serve a variety of industrial markets and specialized applications.
Performance Specialties also offers a comprehensive portfolio of butanediol
(BDO) and its derivatives including tetrahydrofuran (THF), N-Methylpyrrolidone
(NMP) and gamma-Butyrolactone. Many of the products within the Performance Specialties
business function as performance additives that deliver high levels of end-user
value in formulated products. In other areas, such as plastics and textiles,
Performance Specialties’ products function as a processing aid, improving
the quality of end products and reducing manufacturing costs.
ASHLAND WATER TECHNOLOGIES
Ashland Water Technologies (Water Technologies) is a leading specialty chemical
supplier to the pulp, paper, mining, food and beverage, commercial and institutional
industries, chemicals processing, general manufacturing and municipal wastewater-treatment.
Its process, utility and functional chemistries are used to improve operational
efficiencies, enhance product quality, protect plant assets and minimize environmental
impact. To meet the diverse requirements of its customers, Water Technologies
offers a range of services, including analytical and applications laboratories,
customized program offerings and, through its StreamLink Specialty Chemicals
service model, a focused-service approach. Water Technologies is the number
one global producer of specialty paper-making chemicals.
Water Technologies’ chemical product lines include biocides, cleaners,
coagulants and flocculants, converting additives, corrosion inhibitors, defoamers,
deposit and scale inhibitors, internal and surface size agents, membrane treatments,
odor inhibitors and neutralizers, oxygen scavengers, pulp mill additives, retention,
drainage and clarification aids, tissue-making additives, wet- and dry-strength
additives, and wood adhesives.
Water Technologies is comprised of the following product lines:
Process Chemistries — Water Technologies manufactures and sells a broad
array of process chemicals including deposit and scale control agents, defoamers,
biocides, retention aids, frothers and collection aids, crepe and release additives
and other process additives for markets including pulp and paper manufacturing,
mining and extraction, food processing, power, oil refining, chemicals processing,
and general manufacturing. These products are designed to deliver benefits such
as enhanced operational efficiencies, system cleanliness, and superior performance
in a wide variety of manufacturing operations globally.
Utility Chemistries — Utility Chemistries provides specialized chemicals
and consulting services for the utility water treatment market, which includes
boiler water, cooling water, fuel and waste streams for the pulp and paper,
food and beverage, commercial and institutional, power, oil refining, chemicals
processing, general manufacturing, and municipal waste-water treatment industries.
Water Technologies also manufactures and sells automated equipment, including
performance-based feed and control systems, proprietary monitoring devices and
remote system surveillance. The utility products, services and equipment offerings
are designed to protect plant assets and optimize energy, water and operational
costs at customers’ facilities.
Functional Chemistries — Functional Chemistries produces specialized chemicals
for the paper industry that impart specific properties such as strength, liquid
holdout and printability to the final paper or board. Markets include packaging,
tissue and towel, and printing and writing. Products and technologies include
internal and surface sizing agents and wet/dry strength additives.
ASHLAND PERFORMANCE MATERIALS
Ashland Performance Materials (Performance Materials) is a global producer of
specialty resins and adhesives serving the construction, transportation, infrastructure,
packaging and converting, marine and energy markets. It is a global leader in
unsaturated polyester and vinyl ester resins. Performance Materials is also
a major supplier of gelcoats, pressure-sensitive adhesives, structural adhesives,
laminating adhesives and coatings, and elastomers. In addition, through Performance
Materials, Ashland holds a fifty percent joint venture interest in ASK Chemicals
GmbH, a global supplier of chemicals and materials to the foundry industry.
For additional information regarding the global joint venture, see Note C of
Notes to Consolidated Financial Statements in this annual report on Form 10-K.
Performance Materials is comprised of the following businesses:
Composites and Adhesives — The Composites and Adhesives business manufactures
and sells a broad range of general-purpose and high-performance grades of unsaturated
polyester and vinyl ester resins, gelcoats and low-profile additives for the
reinforced plastics industry. Key markets include the transportation, construction,
marine and infrastructure end markets. Performance Materials’ composite
products provide an array of functional properties including corrosion resistance,
fire retardance, ultraviolet resistance, water and chemical resistance, high
mechanical strength, impact and scratch resistance, and high strength-to-weight
ratios.
The Composites and Adhesives business also manufactures and sells adhesive solutions
to the packaging and converting, building and construction, and transportation
markets and manufactures and markets specialty coatings and adhesive solutions
across multiple industries. Key technologies and markets include: acrylic polymers
for pressure-sensitive adhesives; polyvinyl acetate emulsions; urethane adhesives
for flexible packaging applications; aqueous and radiation-curable adhesives
and specialty coatings for printing and converting applications; emulsion polymer
isocyanate adhesives for structural wood bonding; elastomeric polymer adhesives
and butyl rubber tapes for commercial roofing applications; acrylic, polyurethane
and epoxy structural adhesives for bonding fiberglass reinforced plastics, composites,
thermoplastics and metals in automotive, marine, recreational and industrial
applications; specialty phenolic resins for paper impregnation and friction
material bonding. Performance Materials’ adhesive products provide an
array of functional properties including high-strength bonding, ease and speed
of product assembly, heat and moisture resistance and design flexibility.
Elastomers – The Elastomers business, acquired as part of the ISP transaction,
is one of the largest suppliers in North America to the merchant market of high-quality
styrene butadiene rubber (SBR). It provides raw materials used in the manufacture
of tires, flooring, shoe soles, adhesives and sealants, automotive parts and
industrial rubber goods. With a variety of product grades, the Elastomers business
supplies SBR to a wide array of manufacturers.
ASHLAND CONSUMER MARKETS
Ashland Consumer Markets is a leading innovator and supplier of high-performance
lubricants, automotive chemicals and appearance products, including those marketed
under the Valvoline™ brands, and is an operator and franchisor of Valvoline
Instant Oil Change™ centers. Consumer Markets’ Valvoline™
trademark was federally registered in 1873 and is the oldest trademark for lubricating
oil in the United States. Consumer Markets markets the following key brands
of products and services to the private passenger car, light truck and heavy
duty markets: Valvoline lubricants; Valvoline Premium Blue™ commercial
lubricants; MaxLife™ lubricant products for vehicles with 75,000 or more
miles; NextGen™ motor oil made from 50 percent recycled oil; Valvoline
Professional Series™ automotive chemicals; Pyroil™ automotive chemicals;
Eagle One™ automotive appearance products; Car Brite™ automotive
reconditioning products; MaxLife™ and Zerex™ antifreeze; Tectyl™
industrial products and Valvoline Instant Oil Change™ automotive services.
Consumer Markets is comprised of the following businesses:
Do It Yourself (DIY) — The DIY business sells Valvoline™ and other
branded and private label products to consumers who perform their own auto maintenance.
These products are sold through retail auto parts stores such as AutoZone, O’Reilly’s,
Advance Auto Parts, mass merchandisers such as Wal-Mart Stores, Inc., and warehouse
distributors and their affiliated jobber stores such as NAPA and CARQUEST.
Installer Channels — The Installer Channels business sells branded products
and services to installers (such as car dealers, general repair shops and quick
lubes) and to auto auctions through a network of independent distributors and
company-owned and operated “direct market” operations. This business
also sells to national accounts such as Goodyear, Monro and Sears. In addition,
this business includes distribution to quick lubes branded “Valvoline
Express Care™,” which consists of 333 independently-owned and operated
stores.
Valvoline Instant Oil Change (VIOC) — The Valvoline Instant Oil Change™
chain is the second largest franchise competitor in the U.S. “fast oil
change” service business, providing Consumer Markets with a significant
presence in the installer channels segment of the passenger car and light truck
motor oil market. As of September 30, 2011, 260 company-owned and 604 independently-owned
and operated franchise VIOC centers were operating in 41 states. VIOC centers
offer customers an innovative computer-based preventive maintenance tracking
system that allows service technicians to make service recommendations based
primarily on manufacturers’ recommendations.
Commercial & Industrial (C&I) — The C&I business sells branded
products and services to on-highway fleets, construction companies and original
equipment manufacturers (OEMs) through company-owned and operated “direct
market” operations, national accounts and a network of distributors. The
C&I business also maintains a strategic alliance with Cummins Inc. (Cummins)
to distribute heavy duty lubricants to the commercial market, as well as smaller
alliances with other global OEMs.
Valvoline International — Outside of North America, Valvoline International
markets Valvoline™, Eagle One™, Zerex™ and other branded products
through wholly-owned affiliates, joint ventures, licensees and independent distributors
in 129 countries. Valvoline International operates joint ventures with Cummins
in Argentina, Brazil, China and India. In addition, Valvoline International
operates joint ventures with local entities in Ecuador, Thailand and Venezuela.
Valvoline International markets products for both consumer and commercial vehicles
and equipment and is served by company-owned plants in the United States, Australia
and the Netherlands and by numerous third-party warehouses and toll manufacturers
throughout the world.
Consumer Markets operates lubricant blending and packaging plants in Santa Fe
Springs, California; Cincinnati, Ohio; East Rochester, Pennsylvania and Deer
Park, Texas within the United States and Wetherill Park, Australia and Dordrecht,
the Netherlands. Automotive chemical manufacturing and distribution is conducted
in Hernando, Mississippi. Bulk blending and distribution facilities are located
in College Park, Georgia; Willow Springs, Illinois and St. Louis, Missouri within
the United States and Mississauga, Canada. Distribution operations are conducted
from centers located in College
Park, Georgia; Willow Springs, Illinois; Indianapolis, Indiana; St. Louis,
Missouri; Cincinnati, Ohio and East Rochester, Pennsylvania within the United
States and through owned facilities in Dordrecht, the Netherlands and Birkenhead,
United Kingdom and leased facilities in Adelaide, Melbourne, New Castle, Perth
and Sydney, Australia.
Composition of Ashland Inc Revenues by
Segments |
| |
| Life Sciences |
|
 35.91 % |
of total Revenue |
| Life Sciences North America |
|
6.26 % |
of total Revenue |
| Life Sciences Europe |
|
14.41 % |
of total Revenue |
| Life Sciences Asia Pacific |
|
11.06 % |
of total Revenue |
| Life Sciences Latin America Other |
|
4.18 % |
of total Revenue |
| Personal Care |
|
30.48 % |
of total Revenue |
| Personal Care North America |
|
8.56 % |
of total Revenue |
| Personal Care Europe |
|
12.32 % |
of total Revenue |
| Personal Care Asia Pacific |
|
6.26 % |
of total Revenue |
| Personal Care Latin America Other |
|
3.34 % |
of total Revenue |
| Specialty Additives |
|
27.97 % |
of total Revenue |
| Specialty Additives North America |
|
9.6 % |
of total Revenue |
| Specialty Additives Europe |
|
10.02 % |
of total Revenue |
| Specialty Additives Asia Pacific |
|
6.89 % |
of total Revenue |
| Specialty Additives Latin America Other |
|
1.46 % |
of total Revenue |
| Intermediates |
|
7.72 % |
of total Revenue |
| Intermediates North America |
|
5.22 % |
of total Revenue |
| Intermediates Europe |
|
1.25 % |
of total Revenue |
| Intermediates Asia Pacific |
|
0.84 % |
of total Revenue |
| Intermediates Latin America Other |
|
0.42 % |
of total Revenue |
| InterEliminations |
|
-2.09 % |
of total Revenue |
Q2 three months ended (Mar 31 2025)
|
| Revenues by Business Segments |
Revenues
(in millions $) |
%
(of total Revenues) |
| Life Sciences |
172.00 |
35.91 % |
| Life Sciences North America |
30.00 |
6.26 % |
| Life Sciences Europe |
69.00 |
14.41 % |
| Life Sciences Asia Pacific |
53.00 |
11.06 % |
| Life Sciences Latin America Other |
20.00 |
4.18 % |
| Personal Care |
146.00 |
30.48 % |
| Personal Care North America |
41.00 |
8.56 % |
| Personal Care Europe |
59.00 |
12.32 % |
| Personal Care Asia Pacific |
30.00 |
6.26 % |
| Personal Care Latin America Other |
16.00 |
3.34 % |
| Specialty Additives |
134.00 |
27.97 % |
| Specialty Additives North America |
46.00 |
9.6 % |
| Specialty Additives Europe |
48.00 |
10.02 % |
| Specialty Additives Asia Pacific |
33.00 |
6.89 % |
| Specialty Additives Latin America Other |
7.00 |
1.46 % |
| Intermediates |
37.00 |
7.72 % |
| Intermediates North America |
25.00 |
5.22 % |
| Intermediates Europe |
6.00 |
1.25 % |
| Intermediates Asia Pacific |
4.00 |
0.84 % |
| Intermediates Latin America Other |
2.00 |
0.42 % |
| InterEliminations |
-10.00 |
-2.09 % |
| Total |
479.00 |
100 % |
Q2 three months ended (Mar 31 2025)
|
| Revenue Growth rates by Segment |
Y/Y Revenue
% |
Q/Q Revenue
% |
| Life Sciences |
-22.52 % |
28.36 % |
| Life Sciences North America |
-58.9 % |
30.43 % |
| Life Sciences Europe |
-4.17 % |
38 % |
| Life Sciences Asia Pacific |
-7.02 % |
15.22 % |
| Life Sciences Latin America Other |
0 % |
33.33 % |
| Personal Care |
-13.61 % |
8.96 % |
| Personal Care North America |
-8.89 % |
2.5 % |
| Personal Care Europe |
-14.49 % |
31.11 % |
| Personal Care Asia Pacific |
-3.23 % |
-3.23 % |
| Personal Care Latin America Other |
-33.33 % |
-11.11 % |
| Specialty Additives |
-14.65 % |
16.52 % |
| Specialty Additives North America |
0 % |
15 % |
| Specialty Additives Europe |
-23.81 % |
41.18 % |
| Specialty Additives Asia Pacific |
-17.5 % |
-2.94 % |
| Specialty Additives Latin America Other |
-12.5 % |
0 % |
| Intermediates |
-7.5 % |
12.12 % |
| Intermediates North America |
-7.41 % |
8.7 % |
| Intermediates Europe |
0 % |
20 % |
| Intermediates Asia Pacific |
-33.33 % |
33.33 % |
| Intermediates Latin America Other |
100 % |
0 % |
| InterEliminations |
- |
- |
| Total |
-16.7 % |
18.27 % |
Q2 three months ended (Mar 31 2025)
|
| Income by Business Segments |
Income
(in millions $) |
%
(Profit Margin) |
| Total |
31.00 |
6.47 % |
Q2 three months ended (Mar 31 2025)
|
| Income Growth rates by Segment |
Y/Y Income
% |
Q/Q Income
% |
| Total |
-74.17 % |
- |
Annual Report on Ashland Inc Divisions, Sales by Country |
| |
| Life Sciences |
|
38.33 % |
of total Revenue |
| Life Sciences North America |
|
11.41 % |
of total Revenue |
| Life Sciences Europe |
|
12.73 % |
of total Revenue |
| Life Sciences Asia Pacific |
|
10.65 % |
of total Revenue |
| Life Sciences Latin America Other |
|
3.55 % |
of total Revenue |
| Personal Care |
|
30 % |
of total Revenue |
| Personal Care North America |
|
8.66 % |
of total Revenue |
| Personal Care Europe |
|
11.26 % |
of total Revenue |
| Personal Care Asia Pacific |
|
6.06 % |
of total Revenue |
| Personal Care Latin America Other |
|
4.02 % |
of total Revenue |
| Specialty Additives |
|
27.07 % |
of total Revenue |
| Specialty Additives North America |
|
8.66 % |
of total Revenue |
| Specialty Additives Europe |
|
9.84 % |
of total Revenue |
| Specialty Additives Asia Pacific |
|
7.24 % |
of total Revenue |
| Specialty Additives Latin America Other |
|
1.33 % |
of total Revenue |
| Intermediates |
|
6.81 % |
of total Revenue |
| Intermediates North America |
|
4.87 % |
of total Revenue |
| Intermediates Europe |
|
0.99 % |
of total Revenue |
| Intermediates Asia Pacific |
|
0.76 % |
of total Revenue |
| Intermediates Latin America Other |
|
0.19 % |
of total Revenue |
| InterEliminations |
|
-2.22 % |
of total Revenue |
| United States |
|
29.53 % |
of total Revenue |
| International |
|
70.47 % |
of total Revenue |
Twelve months ended 2024
|
| ASH s Annual Revenue by Geography and Business Segments |
Sales
(in millions $) |
%
(of total Sales) |
| Life Sciences |
810.00 |
38.33 % |
| Life Sciences North America |
241.00 |
11.41 % |
| Life Sciences Europe |
269.00 |
12.73 % |
| Life Sciences Asia Pacific |
225.00 |
10.65 % |
| Life Sciences Latin America Other |
75.00 |
3.55 % |
| Personal Care |
634.00 |
30 % |
| Personal Care North America |
183.00 |
8.66 % |
| Personal Care Europe |
238.00 |
11.26 % |
| Personal Care Asia Pacific |
128.00 |
6.06 % |
| Personal Care Latin America Other |
85.00 |
4.02 % |
| Specialty Additives |
572.00 |
27.07 % |
| Specialty Additives North America |
183.00 |
8.66 % |
| Specialty Additives Europe |
208.00 |
9.84 % |
| Specialty Additives Asia Pacific |
153.00 |
7.24 % |
| Specialty Additives Latin America Other |
28.00 |
1.33 % |
| Intermediates |
144.00 |
6.81 % |
| Intermediates North America |
103.00 |
4.87 % |
| Intermediates Europe |
21.00 |
0.99 % |
| Intermediates Asia Pacific |
16.00 |
0.76 % |
| Intermediates Latin America Other |
4.00 |
0.19 % |
| InterEliminations |
-47.00 |
-2.22 % |
| Total |
2,113.00 |
100 % |
| United States |
624.00 |
29.53 % |
| International |
1,489.00 |
70.47 % |
Twelve months ended 2024
|
| ASH s Annual Income by Country and Business Segments |
Income
(in millions $) |
%
(Profit Margin) |
| Total |
169.00 |
8 % |
Twelve months ended 2024
|
| Annual Revenue and Income Growth by Country and Business Segments |
% Y/Y Sales Growth |
% Y/Y Income Growth |
| Life Sciences |
-6.79 % |
- |
| Life Sciences North America |
5.7 % |
- |
| Life Sciences Europe |
-11.8 % |
- |
| Life Sciences Asia Pacific |
-3.43 % |
- |
| Life Sciences Latin America Other |
-27.18 % |
- |
| Personal Care |
6.02 % |
- |
| Personal Care North America |
3.98 % |
- |
| Personal Care Europe |
2.15 % |
- |
| Personal Care Asia Pacific |
21.9 % |
- |
| Personal Care Latin America Other |
1.19 % |
- |
| Specialty Additives |
-4.67 % |
- |
| Specialty Additives North America |
-9.85 % |
- |
| Specialty Additives Europe |
-2.8 % |
- |
| Specialty Additives Asia Pacific |
0 % |
- |
| Specialty Additives Latin America Other |
-6.67 % |
- |
| Intermediates |
-22.16 % |
- |
| Intermediates North America |
-19.53 % |
- |
| Intermediates Europe |
-22.22 % |
- |
| Intermediates Asia Pacific |
-27.27 % |
- |
| Intermediates Latin America Other |
-50 % |
- |
| InterEliminations |
- |
- |
| United States |
-1.58 % |
- |
| International |
-4.37 % |
- |
|
