US speciality chemicals company Eastman Chemical has entered into a definitive agreement to acquire Commonwealth Laminating & Coating. The company, which had 2013 sales revenue of approximately US$100 million, is an independent manufacturer and global marketer and distributor of window films and speciality films for automotive, architectural, and protective applications. The acquisition will include Commonwealth’s manufacturing facility and master distribution centre in Martinsville, VA, and nine sales distribution centres that serve the global market.

“With Commonwealth, Eastman extends our performance films global offerings for solar control window film and protective film applications. Adding Commonwealth supports our strategy of providing targeted and effective product, brand, and service solutions to meet the specific needs of our global, diverse customers and end-users,” said Brad Lich, executive vice president.

With the addition of Commonwealth’s expertise, paint protection technology, brand and channels, and experienced workforce, Eastman expects continued growth in its performance films products. Subject to receipt of required regulatory approvals and satisfaction of other customary closing conditions, the acquisition is expected to be completed in the second half of 2014. Terms of the transaction were not disclosed.

“This acquisition will allow Eastman to gain efficiencies through enhanced utilisation 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.”