Acquisition will enable company to expand Heat Transfer Fluids product offerings
KINGSPORT, Tenn., April 1, 2019 - Eastman Chemical Company (NYSE:EMN) today announced that it has acquired from Sasol, a global chemical and energy company, the Marlotherm heat transfer fluids manufacturing assets located in Germany and related formulations, intellectual property and customer contracts. This acquisition enables Eastman to expand its heat transfer fluids product offerings to customers around the globe. Terms of the transaction were not disclosed.
"With this acquisition, Eastman adds a complementary and profitable heat transfer fluid product line that aligns well with our existing offerings," said Mahendra Dorairaj, vice president and general manager of Specialty Fluids & Energy and Adhesives. "Marlotherm is a proven product and brand in heat transfer fluids with significant application expertise. This acquisition expedites our strategy and is consistent with our objective of delivering superior value through disciplined capital allocation including bolt-on acquisitions."
This new heat transfer product line will become a part of Eastman's Specialty Fluids business in the Additives & Functional Products segment.
Eastman is a global advanced materials and specialty additives company that produces a broad range of products found in items people use every day. With a portfolio of specialty businesses, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. Its market-driven approaches take advantage of world-class technology platforms and leading positions in attractive end-markets such as transportation, building and construction, and consumables. Eastman focuses on creating consistent, superior value for all stakeholders. As a globally diverse company, Eastman serves customers in more than 100 countries and had 2018 revenues of approximately $10 billion. The company is headquartered in Kingsport, Tennessee, USA and employs approximately 14,500 people around the world. For more information, visit www.eastman.com (http://www.eastman.com/).
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Contacts:
Media: Tracy Kilgore Addington
423-229-2526 / tracy@eastman.com (mailto:tracy@eastman.com)
Investors: Greg Riddle
212-835-1620 / griddle@eastman.com (mailto:griddle@eastman.com)
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Eastman Chemical Company via Globenewswire
