Eastman acquires Genovique, adds non-phthalate plasticizer tech 13321Eastman acquires Genovique, adds non-phthalate plasticizer tech
Saying the acquisition will make the company a global leader in non-phthalate plasticizers for both general-purpose and specialty markets, Eastman Chemical Co. (Kingsport, TN) announced its plans to acquire Genovique Specialties Corp. (Rosemont, IL), a producer of specialty plasticizers, benzoic acid, and sodium benzoate from its private equity owner, Arsenal Capital Partners (New York).
March 17, 2010
The deal includes Genovique manufacturing operations in Chestertown, MD; Kohtla-Järve, Estonia; and its joint venture in Wuhan, China. All will become part of Eastman's Performance Chemicals and Intermediates (PCI) segment. Arsenal purchased the business in 2005 and later rebranded the company as Genovique, changing the name from Velsicol Chemical Corp. in October 2008.
About the Author(s)
You May Also Like