US Eastman sees photovoltaic assets as non-core, hints at disposal

26 October 2012 16:31  [Source: ICIS news]

HOUSTON (ICIS)--Eastman Chemical does not consider the photovoltaic assets it took on when it acquired Solutia as a core business and may eventually divest them, the CEO of the US-based producer said on Friday.

“It would be really hard for me say that [photovoltaic] is core for Eastman,” Jim Rogers told analysts during the company’s third-quarter results conference call.

“I think that long-term there is value there, it’s hard for me to believe that there isn’t somebody else who would see more value, or that it would be more core for, than Eastman,” Rogers said.

“But we haven’t made any decisions on that yet,” he added.

Rogers also said that even after completing the $4.8bn (€3.7bn) acquisition of Solutia earlier this year, Eastman would have the financial strength for additional deals, should an exceptional opportunity come up.

($1 = €0.77)

By: Stefan Baumgarten
+1 713 525 2653

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