Meadwestvaco to Expand Performance Chemicals Business
Feb. 15, 2008 - MeadWestvaco Specialty Chemicals Division today announced the signing of a definitive agreement to acquire Eastman Chemical Company’s pine chemicals product lines.
The acquisition of Eastman’s tall oil rosins and tall oil fatty acids product lines, which are used in the production of paper chemicals, ink resins, paints, coatings, building materials and other pine chemicals applications, will expand MeadWestvaco’s Specialty Chemicals’ Performance Chemicals business.
This transaction, expected to close by the end of February 2008, will result in MeadWestvaco acquiring all intellectual property and technology associated with Pamite® tall oil rosins and Pamak® tall oil fatty acids now manufactured at Eastman’s Franklin, Virginia, plant. MeadWestvaco will transition production to its Specialty Chemicals plants in DeRidder, Louisiana, and Charleston, South Carolina. Eastman will continue to own, operate and sell the Pamolyn® product line manufactured in Franklin, Virginia.
SOURCE: MeadWestvaco Corp.