Eastman Completes Sale of Coatings, Adhesives, Ink Businesses to Apollo Management
KINGSPORT, TN - Eastman Chemical Co. completed the sale of certain businesses and product lines of the company's coatings, adhesives, specialty polymers and inks (CASPI) segment to the private investment firm Apollo Management L.P. Eastman said the sale is part of a plan to boost profitability.
Apollo said the acquired business will be named Resolution Specialty Materials Inc., and will be based in Houston. The company will be led by Jeff Nodland, a 25-year veteran of the coatings and composites industries.