Ashland took another important step in its plan for the future, furthering its competitive strategy following its eventual separation from Valvoline, a premium lubricant supplier.
Yesterday, Ashland revealed its new “Always Solving(TM)” corporate identity and unveiled the organizational culture that will continue to differentiate the company as it continues its mission to become the premier specialty chemical company in the world.
“We’ve been on a thoughtful and determined journey since announcing plans to separate Valvoline and Ashland into two great standalone companies,” said Bill Wulfsohn, Ashland chairman and chief executive officer.
“Today, we’re both strong, independent, industry-leading companies positioned for bright futures,” he said.
Ashland, which maintains a controlling interest in Valvoline Inc., is a premier, global specialty chemicals company, serving customers in a wide range of consumer and industrial markets, including adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care and pharmaceutical.
Last week, Ashland announced the closing of Valvoline’s initial public offering (IPO) of 34,500,000 shares of Valvoline’s common stock. After completion of the offering, Ashland owned 170,000,000 shares of Valvoline’s common stock, representing approximately 83% of the total outstanding shares of Valvoline’s common stock.