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0.000118427285646674 -0.000236854571293179 0 0.00027593557555668 -0.00136191378493599 -0.00171719564187584 -0.00142112742775924 -0.00356702984367592
Stock impact report

Ashland Inks Deal to Sell Avoca Business to Optimize Portfolio [Yahoo! Finance]

CF Industries Holdings, Inc. (CF) 
Last cf industries holdings, inc. earnings: 2/12 04:30 pm Check Earnings Report
US:NYSE Investor Relations: snl.com/irw/corporateprofile/4533245
Company Research Source: Yahoo! Finance
ASH disclosed that it is reviewing strategic alternatives for the underperforming Avoca business line. This is in sync with ASH's efforts to optimize its portfolio, focus on core operations and improve margins. Avoca supplies Sclareolide, a fragrance fixative and a range of contract manufacturing capabilities. It has two production facilities in North Carolina and Wisconsin. Ashland had acquired Avoca business line part of the Pharmachem acquisition. Ashland noted that the Avoca business remained challenged over the past few quarters as customers have moved from plant-based to lower-cost bio-based materials. The company recently exited as an unprofitable tolling operation at Avoca and had reduced workforce at a larger facility in response to lower demand. The transaction is expected to close in the first quarter of 2025. For fiscal 2025, Ashland expects sales to be in the range of $1.90 billion to $2.05 billion and adjusted EBITDA to be in the range of $430 million to $470 mil Show less Read more
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