February 2, 2023 (press release) –
KINGSPORT, Tennessee
Eastman Chemical Company (NYSE: EMN) announced it has acquired Ai-Red Technology (Dalian) Co., Ltd., a manufacturer and supplier of paint protection and window film for auto and architectural markets in the Asia Pacific region.
This acquisition demonstrates Eastman’s commitment to driving growth in Performance Films and the paint protection and window film markets. The investment further strengthens the company’s ability to deliver consistent, superior value as a specialty materials company and expands the service level in China and the Asia Pacific region. This site will align with Eastman Performance Films operations and its high standard of quality supply into the market.
“This acquisition provides additional capacity to serve the growing demand for our paint protection and window film products and creates additional capacity for innovation and product scale-up from our existing operations,” said Erin Bernhardt, vice president and general manager of the Performance Films business of Eastman’s Advanced Materials segment. “By adding this capacity and team to Eastman’s industry-leading team, technologies, and brands, we expect to accelerate an already aggressive growth trajectory in automotive and architectural aftermarket films.”
Terms of the agreement were not disclosed.
About Eastman
Founded in 1920, Eastman is a global specialty materials company that produces a broad range of products found in items people use every day. With the purpose of enhancing the quality of life in a material way, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. The company’s innovation-driven growth model takes advantage of world-class technology platforms, deep customer engagement, and differentiated application development to grow its leading positions in attractive end markets such as transportation, building and construction, and consumables. As a globally inclusive and diverse company, Eastman employs approximately 14,500 people around the world and serves customers in more than 100 countries. The company had 2022 revenue of approximately $10.6 billion and is headquartered in Kingsport, Tennessee, USA.
Investors contact
Greg Riddle
1-212-835-1620
griddle@eastman.com
Media contact
Kristin Parker
1-423-229-2526
kristin@eastman.com
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