Proceeds from Ashland will fund an environmental trust
WILMINGTON, Del., Aug. 08, 2022 (GLOBE NEWSWIRE) — Ashland, Inc. (NYSE: ASH) today announced that it has completed the sale of approximately six acres of land located in Ajax, Canada to Sunray Group of Hotels Inc., a leading real estate developer with a significant portfolio across Canada, in a $12.25 million (CAD) transaction, with net proceeds of $9.2 million (CAD) ).
As previously announced, Ashland is selling unused land to fund the newly created environmental trust.
“We continue to execute on our plan to sell valuable land that is not used by the business, and we will place the proceeds in an environmental trust,” said Guillermo Novo, president and CEO of Ashland. “Our environmental trust is an integral part of our core values and strategy and is a clear example of our environmental, social and governance (ESG) commitment.”
Ashland, Inc. (NYSE: ASH) is a global additives and specialty ingredients company with a conscious and proactive mindset for sustainability. The company serves customers in a wide range of consumer and industrial markets, including architectural coatings, automotive, construction, energy, food and beverage, nutraceuticals, personal care and pharmaceuticals. About 3,800 passionate and tenacious solvers – from renowned scientists and research chemists to talented engineers and plant operators – thrive on developing practical, innovative and elegant solutions to complex problems for customers in more than 100 countries. Visit Ashland at ashland.com and ashland.com/sustainability to learn more.
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