AlwaysFree: US Eastman To Sell Adhesives Resins Business To Synthomer

Houston-based Eastman Chemical Co announced on October 28 that it had agreed to sell its adhesives resins assets and business to British chemical maker Synthomer Plc for total cash consideration of $1 billion dollars. The sale includes hydrocarbon resins, pure monomer resins, polyolefin polymers, rosins and dispersions, and oleochemical and fatty-acid based resins product lines, which are currently part of Eastman’s Additives & Functional Products segment. Eastman CEO Mark Costa said the divestiture is part of the company’s efforts to improve the performance of its Additives & Functional Products segment. The transaction is expected to be concluded in the first quarter of 2022, subject to customary and regulatory approval.