Eastman Chemical Company (NYSE:EMN), Kingsport, TN, has acquired Tongxiang Xinglong Fine Chemical Co., Ltd., a cellulose-based specialty polymers manufacturing facility near Shanghai, China.
The acquisition will support Eastman’s Coatings, Adhesives, Specialty Polymers and Inks segment, specifically its Ensure product line, by providing capacity to meet growing demand in China. Similar to Eastman’s other cellulose esters, Ensure has about 60% bio-renewable content and is used in a variety of end-market applications such as coatings for packaging and consumables.
Eastman had 2008 sales of $6.7 billion.