Eastman Acquires Scandiflex; Terms Not Disclosed
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 Eastman's Performance Chemicals and Intermediates segment. Terms of the transaction were not disclosed.
With 2010 sales revenue of $54 million, Scandiflex's manufacturing capabilities and customer relationships in Brazil will enable Eastman to accelerate growth of its PCI segment's 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 Eastman's broad portfolio of plasticizer products.
