Manufacturer of specialty chemicals Ashland Global Holdings has made a binding offer to acquire a composites resin manufacturing facility, owned by Reichhold Holdings International. The facility employs approximately 50 people and manufactures unsaturated polyester resins (UPR) used in a variety of end markets like construction and transportation.

"This transaction is a unique opportunity to strengthen Ashland's position in the European composites market at a highly attractive price, and with very compelling terms and conditions," Andy Johnston, group vice president, Composites said. "The facility is centrally located and, together with Ashland's existing UPR facilities in Spain and Finland, we will be well positioned to deliver enhanced service to our customers and support future growth opportunities across Europe." (AR)