Ashland plans to pursue an initial public stock offering of up to 20 percent of Valvolines common stock starting in mid-2016 – with completion expected during the calendar years fourth quarter – as a first step in the separation announced last September. Bruehl, Germany-based Mauser Groups U.S. subsidiary, Mauser USA LLC, acquired Cincinnati-based Berenfield Containers, which has six U.S. manufacturing facilities that produce steel and fiber drums used for lubricants, chemicals and other products.