Sector News

Eastman acquires performance films company Ai-Red Technology

February 4, 2023
Energy & Chemical Value Chain

Eastman Chemical Co. (Kingsport, Tenn.) announced it has acquired Ai-Red Technology (Dalian) Co., Ltd., a manufacturer and supplier of paint protection and window film for auto and architectural markets in the Asia Pacific region.

This acquisition demonstrates Eastman’s commitment to driving growth in Performance Films and the paint protection and window film markets. The investment further strengthens the company’s ability to deliver consistent, superior value as a specialty materials company and expands the service level in China and the Asia Pacific region. This site will align with Eastman Performance Films operations and its high standard of quality supply into the market.

“This acquisition provides additional capacity to serve the growing demand for our paint protection and window film products and creates additional capacity for innovation and product scale-up from our existing operations,” said Erin Bernhardt, vice president and general manager of the Performance Films business of Eastman’s Advanced Materials segment. “By adding this capacity and team to Eastman’s industry-leading team, technologies, and brands, we expect to accelerate an already aggressive growth trajectory in automotive and architectural aftermarket films.”

Terms of the agreement were not disclosed.

By Mary Bailey

Source: chemengonline.com

comments closed

Related News

March 24, 2024

Thomas Gangl leaves Borealis

Energy & Chemical Value Chain

Appointed Borealis CEO in 2021, Thomas has led key initiatives including the sale of the nitrogen business, acquisitions of Rialti Spa and Integra Plastics AD, and Borouge’s IPO. He also made the final investment decision for the Borouge 4 plant, set to be the world’s largest polyolefin complex.

March 24, 2024

Chemours names Dignam permanent CEO

Energy & Chemical Value Chain

The Chemours Co. today named interim CEO Denise Dignam as the company’s permanent CEO and president, as well as a member of the board of directors, effective immediately. Dignam has been interim CEO since late February, when former CEO Mark Newman was placed on leave due to an internal investigation.

March 24, 2024

Neste merges three business lines into new Renewable Products unit

Energy & Chemical Value Chain

Neste Corp. (Espoo, Finland) has completed its organizational change process, announced on 1 November 2023. Neste informed that it will merge its three renewable business units into one Renewable Products business unit as well as restructure its functions to better support business-driven ways of working.

How can we help you?

We're easy to reach