Ashland receives awards for operations in Changzhou, China

DUBLIN, Ohio – Ashland Inc. (NYSE:ASH) received two prestigious awards from Chinese government officials recognizing its manufacturing facility in Changzhou, China. The awards recognize Ashland’s investment in the district, and the company’s dedication to environmental preservation.

The “2007 Annual Top Ten Investment Project” award was given to companies that made or increased a significant investment in the district. Ashland invested additional $1.5 million and launched a new expansion project that will triple the company’s production of unsaturated polyester resins.

“The Environmental Friendly Company in Changzhou” award was given to Ashland due to the company’s diligent effort and strong commitment to environmental preservation. Companies become eligible to receive this award after achieving 100 percent solid and hazardous waste management, having no environmental pollution accidents within the past three years and maintaining at least 35 percent of the total site as a green area.

The awards were presented by the Changzhou National Hi-Tech District Administrative Committee. “Ashland sets a benchmark for all chemical companies in this district and even in Changzhou. We hope Ashland will compete for provincial and even the national level award,” said Mr. Xi Xiaozheng, director of the Environmental Protection Bureau of Changzhou National Hi-Tech District Administrative Committee.

“We are elated that our efforts to protect the environment have been well recognized. We are committed to continuing these good practices to other projects in China,” said James Ying, regional manufacturing director of Ashland China.

Last December, Ashland signed the greenland preservation contract for the third year in the Changzhou National Hi-Tech District. During the signing ceremony, Ashland received praise from the district for its active community involvement. The district also offered its support for Ashland’s expansion project in Changzhou.