Eastman to Acquire U.S. Laminating and Coatings Producer
U.S. chemical producer Eastman has entered a "definitive agreement" to acquire Commonwealth Laminating and Coating, an independent U.S. manufacturer and distributor of window films and other specialty films for automotive, architectural and protective applications.
Commonwealth, which has production and master distribution facilities at Martinsville, Virginia, along with nine global sales distribution centers, reported annual sales of $100 million in 2013.
A price tag for the acquisition expected to be completed in the second half of this year was not announced.
Eastman said the buy will extend its global offering of performance films for solar control window film and protective film applications. Leveraging Commonwealth's expertise will allow the chemical producer to gain efficiencies through better utilization of manufacturing assets while driving consumer adoption and use of window films generally, it added.