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Ashland has reaffirmed the business outlook for each operating segment as provided as part of the fourth quarter fiscal 2018 earnings release.
The updated financial outlook solely reflects the adoption of discontinued operations accounting for the Composites business and the BDO manufacturing facility in Marl,
The reduction to the adjusted diluted earnings per share (adjusted EPS) outlook is due to the elimination of the full-year adjusted EBITDA of Composites and the Marl BDO facility, partially offset by a portion of interest expense savings from the associated debt repayment and the elimination of the associated stranded costs throughout fiscal 2019.
Due to the expected timing of the divestiture closing, the full benefit of restructuring activities and interest expense savings from planned debt reduction will be realised during fiscal year 2020. The restructuring programme remains on track. As previously communicated, the elimination of all stranded costs - the magnitude and timing of which are unchanged - is expected to occur by the end of calendar year 2019. (RR)
Fibre2Fashion News Desk – India
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-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
