APAC, INC. SELLS ASPHALT TERMINAL IN NORTH CAROLINA TO ASSOCIATED ASPHALT
15 January 2004 - Ashland Inc

'The sale of the Greensboro terminal is part of APAC's ongoing effort to focus on our core operations, principally transportation construction,' Higdem said. 'The proceeds from the sale of the Greensboro terminal will be reinvested in our core operations to further solidify our position as the nation's premier transportation company.' Higdem added that APAC's remaining construction operations in the Greensboro market will continue, unaffected by the sale. Those activities are managed by the company's APAC-Atlantic, Inc. business operation.

The terminal will be renamed Associated Asphalt Greensboro. The terminal, Associated's second in North Carolina, will be ready to sell paving-grade asphalt at the beginning of the 2004 construction season. The rail-supplied terminal has a storage capacity of more than 125,000 barrels of liquid asphalt. Associated Asphalt also owns and operates terminals in Roanoke, Va.; Salisbury, N.C.; and Inman/Spartanburg, S.C.

As the nation's premier transportation construction enterprise, the APAC group of companies operates in 14 Southern and Midwestern states. APAC's assets consist of 96 aggregate production facilities, including 35 permanent operating quarry locations; 65 ready-mix concrete plants; 239 hot-mix asphalt plants; and more than 15,000 pieces of mobile equipment. The APAC companies are wholly owned subsidiaries of Ashland Inc.

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