Sept 22 (Reuters) - Specialty chemicals maker Ashland Inc
ASH.N said it will spin off its engine lubricants unit into a
publicly traded company, Valvoline, to focus on its higher
margin businesses.
Ashland's businesses generated about $3.6 billion in sales
for the year ended June 30, while Valvoline's sales amounted to
$2 billion, the company said in a statement. ID:nHUG7czCcg
The separation will be tax free for its shareholders,
Ashland said.