Eastman, Hercules Reach Agreement on Resins Business Transaction
Company officials said they expect to complete negotiation of customary agreements and to close the transaction by the end of the first quarter. The terms and definitive acquisition agreement will be subject to approval by the boards of directors of both companies. Financial terms are not being disclosed.
Headquartered in Kingsport, Eastman manufactures and markets plastics, chemicals and fibers. The company employs approximately 15,000 people in more than 30 countries and had 2000 sales of US$5.3 billion.
Hercules manufactures and markets chemical specialties globally for making a variety of products for home, office and industrial markets. For more information, visit the Hercules website at www.herc.com.
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