Super Lawyers
The top Attorneys in Virginia and
the Washington, D.C. metropolitan
area, only 5% of the attorneys
in the state are named in SuperLawyers
ATA NBTA | The National Board of Trial Advocacy Association of Trial Lawyers of America Virginia Trial Lawyers Association National Asociation of Distinguished Counsel | Nation's Top One Percent | NADC

Eastman Chemical Co. to strengthen distribution with acquisition

Eastman Chemical Co. announced the planned acquisition of the Virginia business, Commonwealth Laminating & Coating Inc., which is a manufacturer of window and specialty films. Eastman is located in Tennessee and employs more than 1,500 people in Longview.

Eastman will be acquiring Commonwealth's manufacturing plant and master distribution center. The deal also includes nine additional centers that provide architectural, automotive and protective products to customers across the globe. An Eastman spokesperson stated that the objective is to expand the global offerings of performance films for solar control window film and other protective films. The president of Commonwealth expressed support for the trade, citing Eastman's respect for his company's products and infrastructure. He also suggested that both his employees and his customers would benefit from the acquisition.

The terms were not released, and the deal, which requires regulatory approval, is expected to be finalized later this year. Eastman expects the deal will add to its revenue a year after the deal is complete, excluding the costs associated with the acquisition.

As in this case, acquisitions or mergers between two companies working in similar or related fields may be beneficial to both parties. When two companies recognize the advantage of combined effort, they may seek legal guidance that might make the deal go more smoothly. An attorney who has experience with commercial transactions and business acquisitions may be able to help two firms negotiate a deal that is equitable to both parties. That attorney might be able to review all the necessary documents and represent a client's interests throughout the proceedings.

Source: News Journal, "Eastman to acquire Virginia-based films manufacturer", March 14, 2014

No Comments

Leave a comment
Comment Information

DISCLAIMER: This website is designed to provide only general information; nothing contained herein constitutes legal advice nor is it an offer of legal representation. Use of this website is not intended in any way to create or convey the impression that such use of the website by any person, organization, or entity of any nature and/or kind constitutes any attorney-client relationship whatsoever and any information provided in this website shall not constitute legal advice. The use of any electronic communication available through this website with the Law Office of Richard L. Downey or any person associated with this website shall not constitute attorney-client relationship nor will any communication received by the Law Office of Richard L. Downey constitute an attorney-client communication. The Law Office of Richard L. Downey cannot make any guarantees as to the accuracy or currency of any information contained in or created in this website or the use of any link to another website contained in this website. The information that you obtain at this website is not, nor is it intended to be legal advice. You should consult a lawyer for individual advice concerning your own particular situation.

*The National Board of Trial Advocacy is accredited by the American Bar Association. Currently there is no procedure in the Commonwealth of Virginia for approving certifying organizations.