LEXINGTON, Ky. (WTVQ) – Ashland Inc. is closing its Lexington office and moving its headquarters from Covington to Delaware, according to the company.
The company employs 58 people in the Lexington office.
The estimated date of closure is the end of 2019, according to the chemical company.
Ashland says some jobs will be eliminated, others will be moved to Ohio or Delaware.
“Decisions like this are always difficult, as they involve talented individuals who have contributed so much to Ashland over the years. Our company would not be where we are today without the commitment and support of these colleagues,” the company said in a statement released Tuesday.
People whose position is eliminated will receive enhanced severance benefits, according to the company.
Last year Ashland spun-off Valvoline into an independent company, which headquarters remain in Lexington.