Eastman Chemical Company said that it has purchased Scandiflex do Brasil S.A. Indústrias Químicas, a Mauá, São Paulo, Brazil-based producer of plasticizers. Conditions of the deal were not revealed.
The plasticizer business and production capabilities of Scandiflex do Brasil have become a unit of Performance Chemicals and Intermediates (PCI) segment of Eastman Chemical. Scandiflex achieved revenues of $54 million in fiscal year 2010. The company’s production capabilities and customer relations in Brazil will allow Eastman Chemical to gear up the expansion of its PCI segment’s non-phthalate plasticizer business in the Latin American market.
Through this acquisition, Eastman Chemical will add numerous non-phthalate products of Scandiflex to its extensive range of plasticizer products. Scandiflex also brings in regional diversification of production and sales to Eastman Chemical’s portfolio of plasticizers. Kingsport, Tennessee-based Eastman Chemical’s plastics, fibers and chemicals are utilized as critical ingredients in day-to-day products.
Ronald C. Lindsay, who serves as the Executive Vice President of performance chemicals and intermediates and fibers at Eastman Chemical Company, stated that this acquisition is a critical step in the company’s global expansion strategy and strengthens it to expand as the demand rises in the Latin American region for non-phthalate plasticizer products. Scandiflex’s repute as a trustworthy supplier in Latin America and its strong customer relations will offer the company more opportunities for future development in this rapidly growing market, he added.