Eastman Chemical Company to Become Two Independent Companies.

Eastman Chemical Company, Kingsport, TN, has announced that it will divide into two independent public companies, the "Specialty Chemicals and Plastics" company and the "PET Plastics and Acetate Fibers" company.

Earnest W. Deavenport, Jr., Eastman Chairman and CEO, said, "We believe that separating these businesses into two publicly traded companies will unlock long-term shareholder value and provide investors with investment opportunities in highly focused entities. Each company will set its own course for profitable growth, resource allocation, and strategic transact