Investopedia: Transformation Has Paid Off For Ashland

When investors consider why companies such as Albemarle (NYSE:ALB), PPG (NYSE:PPG) and Huntsman (NYSE:HUN) go about the process of remaking themselves, a quick look at Ashland (NYSE:ASH) may offer some explanation. Once largely a refining and marketing company, Ashland has remade itself into a diversified specialty chemicals company. Now the question is whether this transformation can lead a company with perpetually poor free cash flow conversion and returns on capital to better results over the long term.

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