Air Products to sell emulsions unit for $92 million

Air Products and Chemicals Inc., in Allentown, said today it will sell its pressure-sensitive adhesive and atmospheric emulsions businesses to Ashland Inc. of Covington, Ky.

The $92 million deal includes manufacturing plants in Elkton, Md. and Piedmont, S.C.

Those two operations, which will merge into Ashland's Specialty Polymers & Adhesives business group, had sales of $126 million in 2007. The deal, now in the process of regulatory review, is expected to close by June 30.