Eastman Will Buy Plasticizers Firm

Eastman Chemical is buying Rosemont, Ill.-based Genovique Specialties from the private equity firm Arsenal Capital Partners for an undisclosed sum. With annual sales of $135 million, Genovique makes benzoic acid, sodium benzoate, and specialty plasticizers. It operates plants in Chestertown, Md., and Kohtla-Järve, Estonia, and a joint venture in Wuhan, China. Arsenal acquired the business when it bought Velsicol Chemical in 2005. Eastman says the acquisition will expand its business in nonphthalate plasticizers, a segment that it expects will grow at a 7% annual clip in North America and Europe over the next five years.