Eastman Acquires Specialty Polymers Manufacturing Facility in China

Eastman Chemical Company announced that it has completed the acquisition of Tongxiang Xinglong Fine Chemical Co., Ltd., a cellulose-based specialty polymers manufacturing facility located near Shanghai, China.

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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 percent bio-renewable content and is used in a variety of end-market applications such as coatings for packaging and consumables.

"This is an exciting addition to our specialty polymers product lines that reinforces Eastman's commitment to sustainably-advantaged products like Ensure&trade," said Brian Yoon, Asia Pacific Regional Business Director. "Not only will this additional capacity allow us to grow with our customers in China, but it will allow us to free-up capacity at our facility in Kingsport, Tenn., to meet the growing demand for our other cellulose-based specialty polymers worldwide."
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