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Ashland Inc. is a Fortune 500 company which operates
in more than 100 countries throughout the world. Presently based in Covington,
Kentucky, in the United States, the company traces its roots back to Ashland,
Kentucky (for which it is named).
History
Ashland was founded in 1924 as Ashland Refining
Company of Ashland, Kentucky, by Paul G. Blazer. In 1930, the nearby
Tri-State Refining Company was purchased, adding 5,500 barrels per day of
capacity to the company. The company continued to merge or acquire other oil
companies, combining with Swiss Oil in 1936, Allied Oil in 1948, Aetna Oil in
1949, and purchasing Frontier Oil Refining and National Refining in 1950. By
that time, the company began to diversify, adding petrochemicals to its
portfolio with the acquisition of R. J. Brown Company in 1956 and United Carbon
in 1963.
Diversification continued with the purchase of
Warren Brothers in 1966, which later was to become Ashland Paving and
Construction. A significant acquisition was made in 1967 when the company
purchased ADM Chemical Group; whose chemical distribution business would go on
to be one of the primary businesses of the company in the later part of the
20th century. In 1969, the company reorganized to form Ashland Petroleum, as
well as entering into a joint venture in Coal Miningunder the name.
