Eastman Selling Off Additives Functional Products Division, With One Billion Dollar Deal

A leader in sustainable, specialty polymers used for adhesives, and based in London is purchasing Eastman Chemical Company’s adhesives resins assets and business for total cash deal worth one billion dollars. Synthomer, a manufacturer of sustainable, water-based polymers and adhesives plans to continue its focus on its innovation driven strategies with the purchase of Eastman’s Additives, and Functional Products division. The final purchase price is subject to adjustments at closing.