Eastman Completes Acquisition of Commonwealth Laminating & Coating
KINGSPORT, TN – Eastman Chemical Co. has completed the acquisition of Commonwealth Laminating & Coating Inc. The acquired business is part of Eastman’s Advanced Materials business segment and is expected to be accretive to 2015 earnings excluding acquisition-related costs and charges.
“This acquisition will help us better serve the broad and diverse customer base for window and protective films while supporting expansion of our product offerings and the use of window films,” said Brad Lich, Executive Vice President. “We’re also very excited about adding the SunTek® brand to our performance films products portfolio.”
The addition of Commonwealth’s expertise, paint protection technology, brand and sales channels, and experienced workforce is expected to support growth of the company’s performance films products.
Commonwealth had 2013 sales revenue of approximately $100 million. The acquisition includes Commonwealth’s manufacturing facility and master distribution center in Martinsville, VA, and nine sales distribution centers that serve the global market.