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Investment
Eastman to sell adhesive resins business to Synthomer
by Craig Bettenhausen
October 30, 2021
| A version of this story appeared in
Volume 99, Issue 40
Eastman Chemical is selling its adhesive resins business to Synthomer for $1 billion. The business, which posted $484 million in sales last year, includes tire resins, polyolefin resins, rosins, and other chemicals. Eastman said in June that it was selling its tire additives business to the private equity firm One Rock Capital Partners for $800 million. In August, the company told investors that neither of those businesses were performing well. Ashland recently agreed to sell its adhesives business for $1.65 billion to Arkema.
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