Eastman announces acquisition of Solutia

Eastman Chemical Company announced the completion of its US$4.8 billion acquisition of Solutia Inc.; the company also stated that the acquisition supports its growth strategy to increase revenues and profit margins through the expansion of its geographical reach and the establishment of a more diverse and sustainable product portfolio. The global specialty chemicals company produces a broad range of advanced materials, additives and functional products, as well as specialty chemicals and fibers that are found in various products. (July 4, 2012)