Ashland Inc.’S APAC Division Signs Agreement to Sell Tennessee Assets

Fri November 01, 2002 - National Edition

APAC Inc., a wholly owned division of Ashland Inc. announced on Oct. 23, that APAC-Tennessee Inc. has signed an agreement for the sale of certain assets in the Nashville area to LoJac Enterprises Inc., based in Lebanon, TN. The announcement was made by Charles F. Potts, president, APAC Inc. The sale price was not disclosed.

"The sale of these assets is in accordance with our ongoing efforts to restructure APAC’s operations to improve competitive market position and to increase profitability," Potts said.

"This does not indicate in any way that APAC is leaving the Tennessee market," Potts continued. "APAC will continue to provide high-quality paving and construction services within the state."

The APAC group of construction companies is a provider of publicly funded highway construction services. Operating in 14 southern and midwestern states, the company’s assets include 37 quarries, 58 aggregate production facilities, 68 concrete plants, 248 hot-mix asphalt plants and more than 17,000 pieces of mobile equipment that help the APAC group’s 12,000 employees get the job done on time and on budget.

Ashland Inc. is the parent corporation of the APAC group.

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