Baxter Associates, Inc. Announces the Sale of ASHTA Chemicals Inc. to Bigshire Mexico, S. de R.L. de C.V.
ASHTABULA, Ohio, March 1, 2011 /PRNewswire/ — Baxter Associates, Inc. (BAI) announced today the sale of ASHTA Chemicals Inc. (ASHTA), a leading producer of potassium related products and chlorine, to Bigshire Mexico, S. de R.L. de C.V. (Bigshire), a company incorporated in Mexico. Terms were not disclosed.
ASHTA is a manufacturer and marketer of:
- 45% and 50% Liquid Potassium Hydroxide
- 47% Liquid Potassium Carbonate
- Anhydrous Potassium Hydroxide, Flake and Briquette
- Anhydrous Potassium Carbonate
ASHTA opened its corporate offices in Ashtabula, Ohio in 1991, although, under previous owners, this site has been operating since the early 1960′s. ASHTA services its customers from its Ashtabula facilities as well as through its six sales offices, 19 liquid terminals and four warehouses, strategically located in the United States.
ASHTA has approximately 90 employees and had revenues of approximately $100 million in 2010.
Barney Baxter, Chief Executive Officer of BAI and ASHTA commented, “We are pleased to have found an outstanding acquirer in Bigshire. And, I am confident that the Company and its people will continue to grow and thrive under their new ownership.”
“Bigshire is excited to become the new owners of ASHTA. We have great admiration for the Company and its employees and look forward to a bright future,” said a spokesman of Bigshire.
BAI and ASHTA were provided financial advice by Rothschild Inc. and legal advice by Ulmer & Berne LLP.
Contact: ASHTA Chemicals Inc. – Brad Westfall – +1 800 344 8820
SOURCE Baxter Associates, Inc.