MeadWestvaco Buys Eastman Pine Chemicals
Friday February 15, 9:03 am ET
MeadWestvaco Buys Eastman Chemicals Products Used in Paints, Coatings
CHARLESTON, S.C. (AP) -- MeadWestvaco Corp. said Friday it agreed to buy Eastman Chemical Co.'s business that makes chemicals used in paints, coatings and building materials.
MeadWestvaco, which makes packaging for food and pharmaceuticals, did not disclose the terms of the deal.
The company's specialty chemicals unit will acquire Eastman's pine chemicals products, which include the Pamite tall oil rosins and Pamak tall oil fatty acids brands.
"The integration of the Pamite and Pamak technologies into our world-class refineries will allow us to continue to enhance our manufacturing efficiency," MeadWestvaco Vice President Ed Rose said in a statement.
The deal is expected to close this month.
Source: Associated Press
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