Structural changes at Eastman following Solutia acquisition
Chemicals, fibres and plastics manufacturer Eastman Chemical Company has completed its acquisition of US-based chemical solutions company Solutia for approximately $4.8 billion.
In light of this, Eastman has made several key structural changes, separating its business into five reporting segments: Additives and Functional Products, Adhesives and Plasticisers, Advanced Materials, Fibres, and Specialty Fluids and Intermediates.
Mark Costa, executive vice president, has responsibility for the Additives and Functional Products and Advanced Materials segments, and Ronald Lindsay, executive vice president, has responsibility for the Adhesives and Plasticizers, Fibres, and Specialty Fluids and Intermediates segments. Godefroy Motte is assuming responsibility for the company’s global supply chain and procurement as senior vice president, integrated supply chain, chief regional and sustainability officer.
Jim Rogers, chairman and chief executive officer of Eastman, said: "We are confident this acquisition strengthens our position as a top-tier specialty chemicals company and establishes a powerful combined platform with significant opportunities for organic growth.
"We are committed to the successful integration of Solutia
and look forward to delivering the projected growth and synergies from this
combination."
