27.01.2012

Eastman Chemical Buys Solutia for $3.38 Billion

Eastman Chemical said it would buy specialty chemical maker Solutia for about $3.38 billion in cash and stock to expand in Asia Pacific. Solutia stockholders would receive $22 in cash and 0.12 shares of Eastman for each share held. The per-share value of $27.65 is a 42% premium to Solutia's Thursday close of $19.51 on the New York Stock Exchange. more09.12.2011

Emission Regulations for Paint

Adjusting Accordingly - There is a growing public and political concern for the environmental impact and safety of paint and other building materials. In France, legislation has been recently approved to label all indoor paint and construction products according to their level of emission. As a result, manufacturers of materials such as paints and coatings are looking to adjust their portfolios and production accordingly. more15.08.2011

Focusing The Lens

Spotlight - It's a fitting analogy for a company whose roots lie in chemicals for photographic processes - focusing the lens. Eastman has sharpened the focus on its sustainability efforts in recent years, which has earned the company a spot in the Newsweek Green Rankings two years running. The Tennessee-based maker of chemicals, fibers and plastics material also launched its first sustainability review last year and joined the U.S. Department of Energy's Save Energy Now initiative. more10.08.2011

Eastman Completes Sterling Acquisition

Eastman Chemical said Tuesday that it has completed the acquisition of Sterling Chemicals for $100 million in cash. The deal was originally announced in June. Excluding costs and charges related to the acquisition, the acquired business is expected to be slightly accretive to 2011 earnings per share and accretive to 2012 earnings per share above the company's cost of capital, Eastman Chemical said. more04.08.2011

Eastman Chemical Buys Dynaloy

Eastman Chemical said Wednesday that one of its wholly owned subsidiaries has acquired the assets of Dynaloy, an Indianapolis, Ind.-based specialty chemical business, from E&A Industries. Terms of the deal were not disclosed. more29.07.2011

Eastman Chemical Q2 Profit Up

Eastman reported net income for the second quarter of $211 million or $2.91 per share, compared to $148 million or $2.02 per share for the year-ago quarter. Income from continuing operations for the second quarter was $210 million or $2.90 per share, compared to $141 million or $1.92 per share in the prior year quarter. more21.06.2011

Eastman Ranks Among Top 10 in Southeastern Corporate Sustainability Rankings

Eastman Chemical Company placed 10th in the overall 2011 U.S. Southeastern Corporate Sustainability Rankings and second in the state of Tennessee. These rankings spotlight publicly-traded companies headquartered in Georgia, Florida, South Carolina, Alabama, North Carolina and Tennessee. more29.04.2011

Eastman Chemical Q1 Profit Surges

Eastman said its quarterly profit rose sharply as sales increased in every region of the world, driving revenue above analysts' expectations. For the first quarter, the company posted net income of $220 million, or $3.04 per share, compared with $101 million, or $1.37 per share, a year before. Earnings from continuing operations were $2.52 per share, and revenue grew 28% to $1.76 billion. Analysts had expected earnings of $1.93 per share on revenue of $1.53 billion, according to Thomson Reuters I/B/E/S.   more14.02.2011

The U.S. Chemical Industry’s Position in the World

Is the worst over? - A cautious but growing consensus among economists and industry analysts suggests that after more than two years of turbulence, the global economy in general and the chemical industry, in particular, are entering calmer waters. more02.02.2011

Eastman Completes Sale of Performance Polymers PET Business

Eastman has completed the previously announced sale of its Performance Polymers segment's PET business, related assets, and technology to DAK Americas. The total cash proceeds of the transaction were $600 million, subject to post-closing adjustment for working capital. The company will recognize a modest gain from the sale in first quarter 2011. more