has completed the sale of their elastomer business to Lion Copolymer Holdings, LLC. Ashland is a global leader in specialty chemical products, serving both the industrial and consumer markets with products in more than 100 countries. The company is comprised of three commercial units: Ashland Specialty Ingredients, Ashland Performance Materials and Valvoline, and their elastomer business was a segment of Ashland Performance Materials. The elastomer business is located in Port Neches, Texas and accounted for approximately 18% of the $1.6 sales by Ashland Performance Materials in the fiscal year 2014. The Port Neches site includes a 250-person manufacturing facility. It serves primarily the North American tire market. "We are pleased with the value we received for the business and believe this transaction represents a good strategic fit for Lion," said James J. O'Brien, Ashland chairman and CEO.