Eastman Completes Hercules Acquisition
Earnest W. Deavenport Jr., chairman and chief executive officer, said that based on 2000 results, the acquisition is expected to increase Eastman's presence in the coatings, adhesives, specialty polymers and inks product lines to approximately US$2 billion in annual revenues. "The series of acquisitions we've completed over the past few years position us well as a leader in this industry," Deavenport said.
Brian Ferguson, president of Eastman's Chemicals Group, said, "Now that the acquisition is complete, we will begin combining the former Hercules businesses with our existing business. We're very pleased to be able to offer our customers the broadest and most diverse range of resin raw materials for the adhesives industry."
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