Eastman Chemical (EMN) Sells Adhesives Resins Business to Synthomer for $1B

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Go back to Eastman Chemical (EMN) Sells Adhesives Resins Business to Synthomer for $1B

Eastman to Sell Adhesives Resins Business Product Lines

October 28, 2021 6:00 AM EDT

KINGSPORT, Tenn.--(BUSINESS WIRE)-- Eastman Chemical Company (NYSE: EMN) announced it and certain of its subsidiaries have entered into a definitive agreement to sell its adhesives resins assets and business to Synthomer plc for total cash consideration of $1 billion dollars. The sale consists of hydrocarbon resins (including Eastman Impera tire resins), pure monomer resins, polyolefin polymers, rosins and dispersions, and oleochemical and fatty-acid based resins product lines. The business is currently part of Eastmans Additives & Functional Products segment.

The total sale price represents a multiple of 11 times trailing twelve-month adjusted... More