“This acquisition will allow Eastman to gain efficiencies through enhanced utilization of manufacturing assets. It will also enable Eastman to better serve the window and protective films’ broad and diverse customer base while complementing our strategies to increase consumer adoption and use of window films globally,” said Travis Smith, vice president and general manager, performance films. “Eastman is fully committed to providing continued superior service and support to customers worldwide as we successfully integrate these two businesses.”
The Eastman Chemical Company has entered into a definitive agreement to acquire the company, Commonwealth Laminating & Coating, Inc. The latter is both an independent manufacturer and distributor of window films and specialty protective films for the automotive and architectural sectors. The agreement will include Commonwealth’s manufacturing facility and main distribution center in Martinsville, VA and nine sales distribution centers that cater to the global market.
The acquisition, which will be added to Eastman’s Advanced Materials segment, is intended to continue Eastman’s growth in its performance films products. It will also benefit from Commonwealth’s expertise, pain protection technology, brand, channels and experienced workforce. The deal will be completed during the second half of 2014.