Acquisition of Eastman Chemical Company Adhesive Resins Business

The Adhesive Resins business of Eastman Chemical Company ("Eastman") is a US based company which develops, manufactures and sells tackifying resins and additives for adhesive products, with a strong focus on attractive end markets such as hygiene, packaging and high performance tyre additives. On completion of the acquisition of the Adhesive Resins business of Eastman, Synthomer will build on its significant portfolio and geographic growth alongside the diversification of its portfolio, end-markets and geographies with this new and highly complementary growth opportunity.

1st April 2022

Completion of adhesives acquisition

Synthomer plc ("Synthomer" or the "Company") today announces that it has now completed the $1bn acquisition of Eastman’s Adhesive Resins business.

The acquired business will form a new division within Synthomer called Adhesive Technologies. It has a leading position in the global adhesives market which is exposed to attractive end-markets with resilient GDP+ growth fundamentals. Furthermore, Synthomer now has an expanded geographic footprint, increased R&D capability and a portfolio that offers even greater scale and diversity.

Commenting, Michael Willome, Chief Executive Officer said:

“Our Adhesive Technologies division adds a very exciting new growth dimension to Synthomer. Its portfolio takes us into more specialised, more global and higher growth segments and as part of Synthomer, we are confident that we will be able to expand this part of our business significantly.

I would like to extend a warm welcome to our new Adhesive Technologies employees around the world. I look forward to working together and realising the value potential that lies ahead.”