US-based chemical firm Eastman Chemical has paid almost US$4.8 billion for chemicals solutions provider Solutia, having concluded its purchase of the firm. It says the acquisition is in line with its growth strategy to increase revenues and profit margins by expanding its geographic reach, especially in emerging markets, and establishing a more diverse and sustainable product portfolio.

Eastman expects the acquisition to be immediately accretive to earnings, excluding acquisition-related costs and charges. The company has made structural changes in five segments – Additives and Functional products, Adhesives and Plasticisers, Advanced Materials, Fibres, and Specialty Fluids and Intermediates.

Additives and Functional Products consists of the rubber materials product lines from Solutia’s former Technical Specialties segment and the speciality polymers and solvents product lines of Eastman’s former Coatings, Adhesives, Specialty Polymers and Inks segment.

Adhesives and Plasticisers consists of the plasticiser product lines of Eastman’s former Performance Chemicals and Intermediates (PCI) segment and the adhesives product lines formerly in its CASPI segment.

Advanced Materials consists of Eastman’s former Specialty Plastics segment and Solutia’s former Performance Films and Advanced Interlayers segments. Fibres continue to consist of the acetate tow, acetate yarn and acetyl product lines. Speciality Fluids and Intermediates consists of the speciality fluids product lines from Solutia’s former Technical Specialties segment and Eastman’s oxo and acetyl intermediates product lines of its former PCI segment.

US firm Huntsman Corp. has acquired the remaining stake of Huntsman NMG, its Russian PU joint venture with NMG, the manufacturer of PU in Russia and other areas of the former Soviet Union.

Shanghai Sinopec Mitsui Elastomers, a 50:50 joint-venture between Chinese firm Sinopec and Japan-based Mitsui Chemicals, will build an ethylene-propylene-diene terpolymer (EPT) production plant in Shanghai Chemical Industry Park

Swiss speciality chemicals group Clariant is acquiring the remaining 40% share of a joint venture between Alvigo and Chemie.

Belgian firm Solvay has started up its EUR21 million speciality polymers compounding plant at Changshu, targeting the electronics, automotive, consumer and industrial applications markets.

German automotive Tier 1 supplier Faurecia has opened a major R&D centre in Pune, India. Employing 800 automotive engineers, the facility will serve interior systems, automotive seating and automotive exteriors.

US international aerospace and industrial manufacturing and service provider Barnes Group will acquire privately held hot runner maker Synventive Molding Solutions for US$335 million.

US firms Bermis has tied up with Norwegian Thin Film Electronics to develop the Bemis Intelligent Packaging Platform for the commercial development of functional sensor labels manufactured from new and emerging printed electronic technology made from Thin Film’s propriety read/writable printed memory and programme logic

Not only did German robot maker Krauss-Maffei Automation celebrate its 30th anniversary since its foundation, it also marked it with its 1,000th robot delivery from the “robot wharf” of its branch in Schwerin.