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Ashland relocating headquarters from RiverCenter Towers in Covington to Wilmington, Delaware


NKyTribune staff

Ashland Inc. Tuesday announced plans to relocate its headquarters in RiverCenter Towers in Covington to Wilmington, Delaware.

Ashland Inc., announced Tuesday it will move its corporate headquarters from RiverCenter Towers in Covington to Wilmington Delaware by 2020.

Ashland Global Holdings Inc. said the company will also close its office on Lexington.

According to a statement, Ashland will downsize its Covington headquarters, which currently employs 48 people, over the next 17 months and relocate to Delaware by January 1, 2020.

An estimated 15 employees will remain in the Covington for a time after the relocation.

Some of the positions in Covington will be eliminated, while other employees will be offered relocation to other Ashland offices in Wilmington or Dublin.

The statement indicates the move “is part of a previously announced plan to create a leaner, more cost competitive organization. In addition to lowering our costs, we believe these actions will provide several benefits, including quicker decision making, better collaboration across functions, and flexibility in sharing resources.”

Ashland has been headquartered in Kentucky for nearly a century. It was founded in 1924 as the Ashland Refining Company in Catlettsburg, Kentucky, by Paul G. Blazer.

Over time, Ashland evolved from an oil company to a diversified chemicals conglomerate to a specialty chemicals company.

Ashland Inc. relocated its headquarters to Covington from Eastern Kentucky in January of 1999.

Ashland plans to close the Lexington office as of December 31, 2019. The office currently employs 58 people. Similar to Covington, some roles will be eliminated, and others will be relocated to Dublin or Wilmington prior to that date. A few employees will also work remotely.

Employees in Covington and Lexington were notified of the changes at their site and one-on-one employee meetings conducted Tuesday.

Ashland will provide enhanced severance benefits to employees whose roles are eliminated.

“Decisions like this are always difficult, as they involve talented individuals who have contributed so much to Ashland over the years,” company officials said in the statement. “Our company would not be where we are today without the commitment and support of these colleagues.”

Ashland will continue to maintain a large workforce in Kentucky, including at the company’s global manufacturing plant is in Calvert City, which employs approximately 515 people.


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