Ashland plans restructuring

Abstract

The chemical firm Ashland is scaling back production of the food and cosmetic ingredients carboxymethyl cellulose, methyl cellulose, and hydroxyethyl cellulose in response to low demand. The company also plans to sell its nutraceuticals business. Ashland recently announced that it will focus on industries in which it has the biggest technology advantage, such as ingredients for pharmaceuticals, personal care products, and coatings. The firm sold its adhesives business to Arkema for $1.65 billion in 2022 .