Eastman’s plan to acquire the resins businesses had originally been announced in last September, but Hercules and Eastman said in January they had terminated the discussions. An Eastman spokeswoman said discussions resumed shortly after the January announcement, with a new agreement reached in early February. Hercules’ Resins Division is a supplier of hydrocarbon resins; wood, gum and tall oil rosin-based resins; and terpene resins.
Eastman, Hercules Report New Resins Sale Agreement
February 22, 2001
KINGSPORT, TN — Eastman Chemical Co. and Hercules Inc. announced they had again reached an agreement under which Eastman will acquire Hercules’ hydrocarbon resins business and portions of its rosins resins business. Completion of the transaction is expected by the end of the first quarter, the companies said.