2-Pyrol 2-pyrrolidone is used as a drug solubilizer and penetration enhancer in parenteral and injectable dosage forms, specifically in veterinary products. Research and development efforts focused on new products and aggressively seeking to build new geographic markets and applications for existing product lines. The years immediately following the breakup, Standard Oil's near-monopoly was challenging the oil business, and Miles found that he could not survive on the low prices offered for Oklahoma crude. This meant that it would never enjoy the extraordinary profits brought in by big oil strikes and that its crude-oil expense would always be somewhat higher than for a fully integrated oil concern. The Catlettsburg site was advantageous due to its location near the Ohio River and offered an efficient means of transportation for the fledgling company. In 1936, under Blazer's leadership, the company's ownership changed from Swiss Oil to the Ashland Oil and Refining Company shareholder group and was headquartered in Ashland, Kentucky. Key markets and applications include pharmaceutical, personal care, food and beverage, architectural coatings, adhesives, automotive, construction and energy. In November 2010 Ashland announced plans to sell its distribution business known as Ashland Distribution to TPG Capital for $930 Million. Looking for a product? We have a strong track record of manufacturing excellence, running businesses safely and reliably and working closely with customers to meet their growth aspirations. Kevin Willis, currently senior vice president and chief financial officer of Ashland, will serve in the same capacity in the new Ashland. The subzone status was designed to protect those companies who imported oil not in its finished state (such as crude oil) and that diminished in volume once the oil had been processed into products such as asphalt, diesel fuel, or home heating oil. Ashland exited the coal mining business by spinning off Arch Coal, resulting in a reduction of its company holdings from 58 percent to 12 percent. The businesses included in the transaction have combined sales of more than $1.1 billion per year. Cryptos New Favorite Bank Is Reluctant to Accept the Title, Crypto Trading Volumes Spiked as the Market Celebrated a Court Setback for the SEC, Australian Lender NAB Blocks Some Payments to High-Risk Crypto Exchanges. A Brief History of Ashland Inc. (ASH) Ashland Inc. is an American chemical company headquartered in Covington, Kentucky. Who owns Ashland Inc? The Valvoline division produced near-record results, with sales of premium motors oils climbing 27 percent. As an independent publicly traded company, Valvoline will focus on growing its network of Valvoline Instant Oil Change stores, leveraging the Valvoline brand across multiple channels to capture new market share, and expanding its presence in Asia, Europe, Latin America and other international markets. Ashlands Composites Business will become INEOS Composites. Electronics. This was about 67% of all the recorded Ashland's in USA. In 1966, Ashland Oil and Refinery Company, Inc.'s sales had grown to $699,000,000. This may not be consistent with full year annual report figures. In an attempt to consolidate operations, Ashland Distribution closed nine facilities and conducted a "quality of business" review to focus on its most profitable accounts. Once accepted, you can delete the cookies at any time from your browser. In the mid-1970s, Ashland became entangled in its first of a series of legal controversies. First, the company had far outstripped its limited sources of crude oil and never had much success as a prospector. Domestically, Ashland acquired Union Carbide Petroleum Company and Empire State Petroleum, and these were consolidated with other exploration and production activities into Ashland Exploration, Inc. This move made the company one of the first in the region to offer such benefits. Sale of most of its oil leases, equipment, and reserves netted Ashland about $1.5 billion by 1980, but it also left the company wholly dependent upon outside sources of crude, primarily in the Middle East. As an initial step in this strategy to maximize return on existing assets, the company sold its 79 percent interest in Ashland Oil Canada. Both are outstanding businesses with great people, technology and assets. COVINGTON, Ky. - Ashland Inc. (NYSE: ASH) It offers solutions using natural, synthetic, and . We will achieve high returns on investment that result in high returns for our shareholders." Blazer supported creative arts and invited nearby Greenup County educator and internationally acclaimed author Jesse Stuart to open each annual meeting with a story, a poem, or a bit of humor. During this period, Standard Oil had an overwhelming presence in the industry, and, as a result, the U.S. government ordered a breakup of the company in 1911. Refining capacity reached 350,000 barrels per day in 1973, and, as always, Ashland's crude production was less than 20 percent of that figure, forcing the company to join the mounting number of U.S. oil refiners dependent upon Middle Eastern crude for their survival. The only member of the Swiss Oil organization to come to Ashland with Blazer was Ashland Refining Company's first treasurer, William Waples. The early 1960s were also notable for Ashland's 1962 purchase of the Central Louisiana pipeline system from Humble Oil & Refining. Blazer steadily improved the refinery's operation and expanded sales of its products, and in 1929 he convinced Swiss Oil's board of directors to authorize Ashland's purchase of $400,000 worth of marketing companies in the area. They employ 1,250 employees across 19 sites in Europe, North and South America, Asia and Middle East. Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. The company's public image was not helped by a 1988 spill of four million gallons of diesel fuel into the Ohio River, although Ashland was credited with a prompt, candid response. A major leap into the chemical industry occurred in 1967 when Ashland purchased ADM Chemical Group. AECOM ( / e.ikm /, ay-ee-KOM; formerly AECOM Technology Corporation, and stylised ACOM) is an American multinational infrastructure consulting firm. According to Paul W. Chellgren, the company's president and chief operating officer, Ashland's strategy was to become an "integrated, but diversified company" by adding value to its petroleum products rather than by increasing volume. /*-->*/. Louisville Refining Company was purchased in 1959. With revenues of $3.4 billion, the Ashland Distribution business had approximately 2,000 employees across North America and Europe, and entered the China plastics market in 2009. [3], In October 1923, J. Fred Miles of the Swiss Oil Company of Lexington, Kentucky[4] employed Paul G. Blazer and assigned him the task of locating, purchasing and operating a refinery in northeastern Kentucky. Your request has been identified as part of a network of automated tools outside of the acceptable policy and will be managed until action is taken to declare your traffic. By clicking the "accept" button, you are consenting to receive and store cookies from our site. Several important developments occurred in 1994. In 1996, Ashland chairman and chief executive officer John Hall announced his retirement, and Chellgren succeeded him in both positions. In essence, insider ownership is more about the alignment of shareholders interests with the management. today announced that its board of directors has approved proceeding with a plan to separate Ashland into two independent, publicly traded companies. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. The company traces its roots back to 1924 when the Ashland Refining Company was founded in Catlettsburg, Kentucky, by Paul G. Blazer. Ashland itself operated 742 SuperAmerica retail gasoline-grocery outlets in 1996 (SuperAmerica Group's 1996 sales were $1.9 billion). All data provided is as of the most recent financial year end. Please use Search to find the security you were looking for. A great number of useful chemicals are derived from petroleum, and the oil industry as a whole was expanding rapidly into this new and largely unexplored area. I am going to take a deep dive into Ashland Global Holdings Incs (NYSE:ASH) most recent ownership structure, not a frequent subject of discussion among individual investors. COVINGTON, KY, April 17, 2017 - Ashland Global Holdings Inc. (NYSE: ASH) today announced that its subsidiary has signed a definitive agreement to acquire privately owned Pharmachem Laboratories, Inc., a leading provider of . Swiss Oil was soon one of the leading oil concerns in the state of Kentucky. With the purchase of the refinery came a small towboat and oil barge. I highly recommend you to complete your research by taking a look at the following: NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. and who currently owns them. The most Ashland families were found in USA in 1920. INEOS Group INEOS Enterprises The deal comprises 20 manufacturing sites in Europe, North and South America, Asia and Middle East employing 1300 people, generating sales of more than $1.1 bn. It also represents the final step in Ashland's more than decade-long transformation from an oil refiner and marketer to a specialty chemicals company, during which the company completed dozens of acquisitions and divestitures. If you do not accept the deployment of cookies, some of the functionality of our website will be lost. Diversification continued with the purchase of Warren Brothers in 1966, which later was to become Ashland Paving and Construction. Who bought Ashland adhesives? In addition to its growth in petrochemicals, it has acquired oil & gas fields in the UK, Denmark and Norway and is a top 10 company and the biggest private enterprise operating in the North Sea. Analyze quarterly positions in Ashland Global Hldgs with up to 7 years of data, all consolidated into one spreadsheet . Central Louisiana was a major pipeline, gathering most of the oil produced in greater Louisiana and the Gulf of Mexico fields, and its acquisition by Ashland largely relieved the company of its worries about a steady supply of crude oil, made worse by the intermittent threat of new user tolls on the waterways. Operating income from chemicals increased to $47 million in the last three months of 1994 compared to $28 million the year before. They gave him the power to run Ashland as his own operation, though at no point during his tenure as Chief Executive Officer (19361957) did he own a controlling interest in the company.[7]. Ashland would later sell its remaining holdings. . Bill Wulfsohn, Ashland chairman and chief executive officer said,Today Ashland completed an important step fulfilling its vision of becoming the premier specialty chemical company with the completion of the sale of the Composites and Marl Intermediates businesses. It is a privately owned company with sales in 2018 of $60bn and EBITDA of $7bn. The company's shares closed last . In 1981, Atkins was forced out as chairman and chief executive officer by a group of executives who brought to light illegal payments Atkins had made to government officials in Middle East countries, most notably Oman. Although still involved as chairman of Ashland's Finance Committee and Executive Committee, Blazer stepped down as Chief Executive Officer in 1957. [CDATA[/* >
Remove Disease Pathfinder: Wrath Of The Righteous,
Articles W