Eastman Acquires Specialty Polymers Manufacturing Facility in China

Eastman has announced that it has completed the acquisition of Tongxiang Xinglong Fine Chemical, a cellulose-based specialty polymers manufacturing facility located near Shanghai, China. Terms of the transaction were not disclosed. The acquisition will support Eastman's Coatings, Adhesives, Specialty Polymers and Inks segment, specifically its Ensure product line, by providing additional capacity to meet the growing demand in China. Similar to Eastman's other cellulose esters, Ensure has approximately 60% bio-renewable content and is used in a variety of end-market applications such as coatings for packaging and consumables.