01 September 2011 21:20 [Source: ICIS news]
HOUSTON (ICIS)--Eastman Chemical acquired Scandiflex do Brasil Industrias Quimicas, a plasticisers firm in Sao Paulo, Brazil, the US acetyls producer said on Thursday.
Eastman, based in Kingsport, Tennessee, did not disclose the price it paid or any terms of the deal. It said Scandiflex had 2010 sales revenue of $54m (€38m).
The Brazilian firm has become part of Eastman’s Performance Chemicals and Intermediates (PCI) segment.
Eastman said buying Scandiflex will strengthen the company’s position in non-phthalate plasticiser products in Latin America.
The Scandiflex purchase is the second plasticiser-related deal for Eastman this summer.
In early August, Eastman completed the purchase of Sterling Chemical for $100m. Eastman said the main attraction was Sterling’s plasticiser facility at its Texas City site.
($1 = €0.70)
For more on Eastman Chemical, visit ICIS company intelligence
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