Hercules to Sell Resins Businesses to Eastman
WILMINGTON, DE - Hercules Inc. announced an agreement to sell its hydrocarbon-resins and certain parts of its rosins resins businesses to Eastman Chemical Co. Terms were not disclosed.
The sale includes production facilities in Jefferson, PA, and in The Netherlands, England, and Mexico. Hercules will retain resin operations at Hattiesburg, MS, and Burlington, Ontario, and will manufacture products for Eastman at those locations. The sale does not include Hercules' peroxy chemicals business and its rosins resins operations at Brunswick, GA. Hercules said it will seek to divest those businesses separately.
Hercules said the sale reflects a strategic plan announced earlier this year that calls for the divestiture of the company's Resins and FiberVisions division. The Resins division is a major producer of hydrocarbon resins; wood, gum and tall oil rosin resins; terpene resins; and organic peroxides.
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