Eastman Chemical Co (FRA:EAC)
€ 98.86 -1.04 (-1.04%) Market Cap: 11.36 Bil Enterprise Value: 15.58 Bil PE Ratio: 13.78 PB Ratio: 2.11 GF Score: 79/100
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Synthomer PLC to Acquire Adhesive Resins Business of Eastman Chemical Co Call Transcript

Oct 28, 2021 / 07:30AM GMT
Release Date Price: €90.78 (-2.91%)
Calum MacLean
Synthomer plc - CEO, Interim President - Specialities

Welcome, everyone, to the Synthomer call. So I'd like to talk to you a little bit today about the acquisition of Eastman's Adhesives Resins business. I'm joined with Tim Hughes and Steve Bennett, as normal in these things.

But a little bit of an overview first before I flip through the slides with you. We think very much a win-win deal both for ourselves and for Eastman. It's a $1 billion acquisition of their Eastman's Adhesive Resins, and it will form a new division within Synthomer, which will be known as Adhesive Technologies.

Just as way of a background, we've been speaking to Eastman. We have a good working close relationship with Eastman. We've actually been speaking to them about this business for over three to four years now when we first started talking about it, but it was only obviously in the last six months that we've fully engaged with them.

That was a bilateral engagement. Many reasons for that, I think, as I mentioned win-win. But from Eastman's perspective, it was a strategic divestment,

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