Almost a century of evolving and solving

What began as a small oil refinery in eastern Kentucky has grown into one of the world's leading specialty chemical companies. From the beginning, the company's founder, Paul Blazer, instilled in Ashland employees a passion for hard work, integrity and solving problems- qualities that endure today.

Now, under the leadership of Chairman and CEO Bill Wulfsohn, Ashland operates in more than 100 countries around the world and provides science-based solutions – through products and services; services that amplify the efficacy, refine the usability, add to the allure, ensure the integrity and improve the profitability of our customer’s products across diverse industries.

Ashland's legacy traces back to 1924 and a refinery in Catlettsburg, KY, USA, later renamed Ashland Oil & Refining Company. This renewed focus on growth took the company into a number of other affiliated businesses including road paving and construction, oil exploration, coal, a chemicals distribution business and specialty chemical businesses - among others.

As the 1990s progressed, and the refining business consolidated and changed, it became clear that Ashland needed to change too.  A big change came in the late '90s when Ashland formed a joint venture with Marathon Oil - a decision that would ultimately give Ashland the ability to exit fully from refining and marketing.

Between 2002 - 2014, Ashland completed a remarkable transformation from a petroleum refiner and marketer with diversified holdings in chemicals and highway construction into today's global specialty chemical company.

An Extraordinary Transformation
Ashland’s transformation from a refining to a specialty chemical company leapt forward in 2005 when it sold its stake in the refining joint venture to Marathon, thus stepping away from its roots in refining.

Ashland looked forward and applied its passion and strengths to chart a course for the company it wanted to be, assessing internal competencies and capabilities and outline how to use these skills to differentiate and position itself for growth.

With a foothold in the business of specialty chemicals, through its performance materials and water technologies segments, Ashland began its transformation.  It's goal,  to become a truly differentiated specialty chemical company, in a somewhat crowded industry, demanded a fresh, strategic approach.

To separate itself, Ashland took a different tact in choosing to focus on different characteristics: gaining positions in specific, increasingly global end markets; leveraging its unique core competencies, and seeking businesses that can achieve global No. 1 or strong No. 2 market positions.

More steps in the transformation occurred in 2006 and 2008 when Ashland divested their APC road paving and construction business and acquired Hercules, Inc, respectively.

Now, with the leading positions in cellulosics and specialty papermaking chemicals provided through Hercules, Ashland had a solid foundation of specialty and renewable chemistries, as well as exposure to global growth markets such as personal care and pharmaceuticals.

Defining Moments
Of all its aquisitions in the 1940's and 50's, the addition of Valvoline, an iconic automotive lubricant brand in 1950 was one of the most significant.

By 2010, Ashland consisted of three specialty chemical businesses: Ashland Aqualon Functional Ingredients, a global leader in cellulose ethers; Ashland Hercules Water Technologies, a global leader in specialty paper-making chemicals, and Ashland Performance Materials, a global leader in unsaturated polyester and vinyl ester resins. These business, combined with Ashland Distribution, the second-largest chemicals distributor in North America and third-largest globally, left Ashland in solid standing.

The transformation of Ashland continued when, in March 2011, it sold the distribution business, which was quickly followed by the acquisition of International Specialty Products Inc. (ISP), one of the world's leading privately held specialty chemical companies, with a global footprint and the ability to develop and deliver sophisticated, performance-enhancing chemistry to a multitude of industries. This acquisition provided Ashland with significant strategic benefits and strengthened its position in a number of important, high-growth, high-margin global end markets, namely personal care and pharmaceuticals.

In 2014 Ashland refined its focus in specialty chemicals when it sold its Water Technologies to a private equity buyer.

Today, in 2016 Ashland completed its strategic transofrmation with its separation into two imdependent, publicly traded companies, Ashland (NYS:AHS) a premier global specialty chemicals company, and Valvoline (NSY:VVV), a leading worldwide producer and distributor of premium-branded automotive, commercial and industrial lubricants, and automotive chemicals.

This evolution has been almost a century in the making.  To complete a total transformation takes a team of passionate, tenacious solvers.  People who thrive on developing practical, innovative and elegant solutions to complex problems in applied chemistry.  People who aren’t afraid of pushing the boundaries of what’s possible.  People who want to advance the competitiveness of their customers across diverse industries. Ashland remains poised and ready to tackle tough challenges, meet problems head on and apply their can-do attitude into the next century.