Ashland Announces New Distribution Agreements for its Range of Polyester & Vinyl Ester Resins in EU

BARCELONA, Spain -- Ashland Performance Materials, a commercial unit of Ashland Inc. (NYSE: ASH) announced new distribution agreements that cover its leading resin chemistries and technology solutions for composite manufacturing in the Europe.

Effective immediately, Cathay Investments completed the acquisition of Umeco Distribution from Cytec Industries Inc. to form Cathay Composites. Cathay Composites will continue Ashlands distribution and agency accounts, retaining the existing management and organizational structure in the United Kingdom, Scandinavia, Estonia and Finland. Cathay Composites will distribute Ashlands full line of polyester and vinyl ester resins, premium gelcoats and low-profile additives to the, marine, building and construction and transportation markets.

"We are excited to continue our long-standing, successful relationship with Umeco, now named Cathay Composites," said Andrew Miller, sales director composites, Ashland Performance Materials, EMEA. "Together, we offer our customers a broad portfolio of industry-leading product lines. We look forward to leveraging the local knowledge of our new partner to deliver clear best-in-class composites products and services."

"These agreements represent a major step in our continued focus on supply and service capabilities at the local level for customers in these challenging and growing markets," said Brian Harpur, managing director, Cathay Composites. "We will continue to provide local expertise and service to ensure customers benefit from Ashlands comprehensive range of Composites solutions."

Additionally, effective immediately, Quimidroga France will take over Ashlands distribution and agency accounts from Umeco, and will distribute Ashlands full line of polyester and vinyl ester resins and premium gelcoats and low-profile additives to the composites market in France. Quimidroga currently distributes Ashlands complete portfolio of composites products to manufacturers in Spain, Portugal and North Africa.

"We are delighted to expand our existing successful partnership with Quimidroga to include France," said Andrew Miller. "Quimidroga is well established as a leading distributor serving the composites market. We are jointly committed to driving innovation and identifying ways to improve service levels to our customers. All parties will work together to ensure a seamless transition with no disruption in customer service."