United States. Eastman Chemical Company announced that the acquisition of Solutia Inc. has been completed. Which was worth US$4.8 billion.
According to Eastman, this acquisition supports its growth strategy to increase revenue and profit margins, expanding the company's geographic reach, especially in emerging markets, and establishes a more diverse and sustainable product portfolio.
Eastman expects the purchase to be immediately cumulative to earnings, excluding acquisition-related costs and expenses.
With the business, Eastman has made structural changes in five segments: additives and functional products, adhesives and plasticizers, advanced materials, special fibers and fluids, and intermediates. This structure takes into account the strategies, operating models and sales channels that various companies employ to be leaders in their respective markets.
