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Ashland Partners with Distributor HORN for Oil and Gas Market

Ashland Inc.ASH has chosen a new distribution partner, HORN, for all its products in the oil and gas segment throughout the U.S., effective Jul 1, 2016. HORN is one of the leading distributors of specialty chemical products, which it supplies from premier manufacturers by partnering with them. The new agreement is an extension of the company's two decades of history in representing Ashland in industrial coatings and construction business segments in the U.S.

Ashland is a global industrial leader in providing specialty chemical solutions to its customers. The company is widely recognized for the production of its water-soluble polymers. The polymers are used by energy service companies for producing drilling fluids, drill-in fluids, fracturing fluids and production systems. This collaboration with HORN will help Ashland to provide improved service and support to its customers.

With its strong and wide network, along with strategically located warehouses, HORN will be able to help Ashland's energy segment grow faster. HORN's technical experts have a deep understanding of Ashland's products and are therefore well positioned to successfully cater to the oil and gas industry throughout the domestic market. Other partners of HORN in the same sector include Albemarle Corporation ALB and BASF SE BASFY .

ASHLAND INC Price

ASHLAND INC Price | ASHLAND INC Quote

Ashland offers specialty chemicals in more than 100 countries. With the closure of its Water Technologies unit sale in 2014, the company now has three commercial units - Specialty Ingredients, Performance Materials and Valvoline. For over 150 years, Valvoline has been serving the needs of automotive customers all over the world, making it the most recognized premium brand in the global automotive lubricant industry.

Ashland reported adjusted earnings of $1.83 per share in the second quarter of fiscal 2016 (ended Mar 31). Earnings per share beat the Zacks Consensus Estimate of $1.72. Each of the business units of the company outdid management's expectations in the quarter. The company intends to continue focusing on growing its high-margin differentiated products lines while creating further value for shareholders.

Ashland had earlier announced plans to split into two separately traded public companies − the new public holding company, Ashland Global Holdings, and Valvoline. The separation is expected to provide both companies with financial flexibility to achieve their long-term objectives.

Ashland currently has a Zacks Rank #3 (Hold).

A better-ranked company in the specialty chemical space is AgroFresh Solutions Inc. AGFS , with a Zacks Rank #2 (Buy).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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