Eastman Chemical Buys Plant In China

Acquisition of a specialty polymers manufacturing plant will help Eastman Chemical Co. meet growing demand in China, the company said.

KINGSPORT, Tenn. (AP) -- Eastman Chemical Co. has acquired a specialty polymers manufacturing plant in China.

Tongxiang Xinglong Fine Chemical Co. near Shanghai is a cellulose-based specialty polymers facility. Terms of the transaction were not disclosed.

Eastman, based in Kingsport, said in a news release that the acquisition will help the company meet growing demand in China.

Eastman employs some 10,000 people around the world.