Eastman Acquires Scandiflex to Expand Plasticizer Business
Acquisition enables growth in fast expanding Latin America
KINGSPORT, Tenn., Sept. 1, 2011 Eastman Chemical Company (NYSE:EMN) announced that it has acquired Scandiflex do Brasil S.A. Indústrias Químicas, a manufacturer of plasticizers located in Mauá, São Paulo, Brazil. The acquired Scandiflex plasticizer business and manufacturing capabilities are now part of Eastmans Performance Chemicals and Intermediates (PCI) segment. Terms of the transaction were not disclosed.
With 2010 sales revenue of $54 million, Scandiflexs manufacturing capabilities and customer relationships in Brazil will enable Eastman to accelerate growth of its PCI segments non-phthalate plasticizer business in the Latin America region. In addition to regional diversification of both sales and manufacturing, Scandiflex also brings several complimentary non-phthalate products to Eastmans broad portfolio of plasticizer products.
This acquisition is an important next step in our global growth strategy and positions us to grow as demand increases in Latin America for non-phthalate plasticizer products, said Ron Lindsay, executive vice president, performance chemicals and intermediates and fibers. I am confident that Scandiflexs strong customer connect and reputation as a reliable supplier in the Latin America market will provide us additional opportunities for future growth in this fast expanding region.