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Eastman streamlines its operation.(Industry News)

It was announced recently that private investment firm Apollo Management had purchased parts of Eastman Chemical's coatings, adhesives, speciality polymers and inks (CASPI) segment. The product lines include acrylate ester monomers, unsaturated polyester resins, liquid/powder resins, inks and graphic arts raw materials and textile chemicals.

To explain the reason for the divestments, Eastman's Chairman Brian Ferguson said the company had made progress towards improving profitability and is focusing on a strategy that builds on Eastman's strengths in polyester, acetyl a

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  • Eastman to sell portions of CASPI segment.
    • Eastman Chemical Co., Kingsport, TN, has agreed to sell private investment firm Apollo Management, L.P., New York, NY, portions of certain businesses and product lines in their coatings, adhesives, specialty polymers, and inks (CASPI) segment. The $215 million acquisition is subject to regulatory approval and other closing conditions. The purchase ......
  • Eastman Chemical Co. (News).
    • Eastman Chemical Co., Kingsport, Tenn., named J. Brian Ferguson chairman and CEO, effective Jan. 1. Ferguson succeeds Earnest Deavenport, Jr., who retired. Eastman also recently created two independent divisions: Eastman Company and Voridian Company. Eastman will consist of businesses now in the company's Chemicals Group. Those businesses are coatings, adhesives, ......
  • New process improves PET resin manufacturing: improvements in manufacturing the most popular packaging resin could bring down the price--but no one can say how much.
    • A new process that has the potential to significantly reduce the cost of polyethylene terephthalate (PET) is being put into place by resin supplier Eastman Chemical Co. The new PET process, called IntegRex, is being installed at Eastman's resin plant in South Carolina. Construction will start early next year, and ......
  • FOOD & BEVERAGE.
    • Deli containers offer good clarity, strength and impact resistance Deli containers from Genpak Corp. are made of Eastapak[R] amorphous polyethylene terephthalate (APET) copolyester from Eastman Chemical and feature higher clarity and better resistance to breakage than oriented polystyrene containers, reports the manufacturer. The containers are leak-proof and are available in ......
  • Eastman sells off composite resins.
    • This month, Eastman Chemical Co., Kingsport, Tenn., expects to close the sale of portions of its coatings, adhesives, specialty polymers, and inks business to Apollo Management, L.P. of New York, a large private investment firm. The sale includes Eastman's composite polymers--unsaturated polyesters and vinyl esters--based in Carpentersville, Ill. Eastman acquired ......
  • Improve profitability.
    • Eastman Chemical is taking steps to improve profitability by addressing under-performing businesses and product lines in certain segments. Eastman identified the businesses and product tines in its coatings, adhesives, specialty polymers and inks segment (CASPI) that are performing below accept able financial levels in their current structure and outlined strategic ......
  • New composite resins firm is born.
    • Resolution Specialty Materials, Inc. (RSM) in Houston is a new firm that was formerly the coatings, adhesives, specialty polymers, and inks (CASPI) business of Eastman Chemical Co. RSM is a sister company of Resolution Performance Products (RPP), also in Houston, which used to be the epoxy business of Shell Chemical ......
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