Eastman Chemical closes deal in China
Friday January 15, 2010, 5:09 pm EST

Eastman Chemical completes deal for specialty polymers manufacturing facility in China

KINGSPORT, Tenn. (AP) -- Eastman Chemical Co. said Friday that it has completed its acquisition of Tongxiang Xinglong Fine Chemical Co. Ltd., a specialty polymers manufacturing facility near Shanghai.

Terms were not disclosed.

Eastman Chemical, based in Kingsport, Tenn., said the acquisition will provide it additional capacity to meet growing demand in China for its coatings, adhesives, specialty polymers and inks segment.

Eastman Chemical shares fell 28 cents to $60.42 in trading Friday. The shares have traded between $17.76 and $62.10 over the past year.

Source: Associated Press

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