Acquisition supports growth in Eastman’s electronic materials product lines
KINGSPORT, Tenn., Aug. 3, 2011 – Eastman Chemical Company (NYSE:EMN) announced that one of its wholly owned subsidiaries has acquired from E&A Industries, Inc., the assets of Dynaloy, LLC, a specialty chemical business based in Indianapolis, Indiana. This acquisition, which includes Dynaloy’s inventory, equipment, intellectual property, and customer contracts, supports Eastman’s growth efforts for the electronic materials product line of its Coatings, Adhesives, Specialty Polymers and Inks (CASPI) segment.
Dynaloy manufactures and sells advanced cleaning solutions for multiple applications on a global basis, with particular focus on the semiconductor industry. The business will remain headquartered in Indianapolis.
“Dynaloy brings a strong market connect along with material science capabilities that are complementary to our own,” said Scott Ballard, industry director, Electronic Materials. “As we continue to develop and grow Eastman’s presence in electronic materials, the expertise and reliability that Dynaloy customers have come to expect will be a great asset to our overall growth strategy.”
Terms of the transaction were not disclosed.