Eastman sells adhesive and resin business to London-based company for $1 billion

Eastman Chemical Company announced on Friday it completed the sale of its adhesives and resins business for one billion dollars. Eastman and certain subsidiaries sold the adhesive and resin product lines to Synthomer plc, based out of London, England.

The sale price of $1 billion was paid in cash, and J.P. Morgan Securities LLC served as the financial advisor for the transaction. The acquired business, and all of its global employees, will form a new division within Synthomer called Adhesive Technologies. Read the article on Eastman’s website.

(Image: Eastman)