Eastman Chemical to acquire Solutia for $4.7 billion
KINGSPORT, Tenn. and ST. LOUIS, Mo. — Eastman Chemical Company has agreed to acquire Solutia Inc., a manufacturer of performance materials and specialty chemicals, for approximately $4.7 billion, according to a press release.
“The acquisition of Solutia is a significant step in our growth strategy and one that I am confident will strengthen Eastman as a top-tier specialty chemical company with strong, stable margins,” said Jim Rogers, chairman and chief executive officer of Eastman. “The addition of Solutia will broaden our geographic reach into emerging geographies, particularly Asia Pacific, establish a powerful combined platform with extensive organic growth opportunities, and expand our portfolio of sustainable products, all of which are consistent with our growth strategy.”