Eastman Buys Majority Of Czech Chemical Company

Eastman Chemical Co., Kingsport, Tenn., has purchased 76% of Chemicke Zavody Sokolov, a chemical company in the Czech Republic. Financial terms weren't disclosed. The acquisition strengthens Eastman's market and technological position in the coatings, adhesives, and specialty polymers businesses; and the performance chemicals and intermediates businesses, the company said. "We are extremely pleased by the talent, complementary technology, and excellent manufacturing and engineering capabilities we've already seen in the Sokolov organization," says Francois T. Vleugels president, Eastman Chemical, Europe, Middle East, and Africa region. "This acquisition will contribute significantly to our ability to discover, expand, and develop new product portfolios and platforms."