Ashland Inc. has said that its subsidiary, Hercules Incorporated, has completed the previously announced sale of its aviation and refrigerant lubricants business, a polyol/ester-based synlubes business, to Calumet Missouri, LLC, an assignee of Monument Chemicals Inc. The purchase price was not disclosed. Under the asset purchase agreement, Calumet Missouri obtained a 22-acre parcel that includes the manufacturing facility in Louisiana, Mo., which it plans to continue operating.

Ashland Water Technologies is a leading global producer of papermaking chemicals and a leading specialty chemicals supplier to the pulp, paper, commercial and institutional, food and beverage, chemical processing, mining and municipal markets. Its process, utility and functional chemistries are used to improve operational efficiencies, enhance product quality, protect plant assets and help ensure environmental compliance.

In more than 100 countries, the people of Ashland Inc. (NYSE: ASH) provide the specialty chemicals, technologies and insights to help customers create new and improved products for today and sustainable solutions for tomorrow. Our chemistry is at work every day in a wide variety of markets and applications, including architectural coatings, automotive, construction, energy, food and beverage, personal care, pharmaceutical, tissue and towel, and water treatment. Visit www.ashland.com to see the innovations we offer through our four commercial units - Ashland Specialty Ingredients, Ashland Water Technologies, Ashland Performance Materials and Ashland Consumer Markets.