Corporate changes

By Staff -- Purchasing, 11/2/2000

Eastman Chemical Co., Kingsport, Tenn., plans to sell parts of its fine chemicals business and buy the hydrocarbon resins business of Hercules Inc. and a portion of the company's resins business. Though no buyer has been identified, the company hopes to complete the transaction in the next six months. The sale of parts of Eastman's fine chemicals business will affect plants in Batesville, Ark.; Llangefni, Wales; and Hong Kong, China. Facilities included in the proposed acquisition: Jefferson, Pa.; Middleburg, The Netherlands; Stonehouse, England; and Uruapan, Mexico. Eastman would also acquire plants in Savannah, Ga., and Franklin, Va., but these would continue to be run by Hercules.

PPG Industries Inc., Pittsburgh, Pa., has announced plans to acquire GlasPac Total Solutions (GTS Services), based in Portland, Ore. GTS is a provider of business-management hardware, software, technical support and electronic data exchange services for the auto-glass replacement industry. GTS Services will operate separately from PPG.

Sovereign Specialty Chemicals Inc., Chicago, Ill., will purchase Imperial Adhesives Inc. from NS Group for approximately $27 million. Sovereign is a producer, marketer and distributor of high-performance adhesives, sealants and coatings. NS Group is a producer of tubular steel products used in many industries.

Seegott Inc., Streetsboro, Ohio, has acquired Cron Chemical Corp., Hallase Texas, and Magnolia Solvents Inc., New Orleans, La. The two acquired companies have a combined annual revenue of about $40 million. The acquisitions will greatly strengthen Seegott's position in the Southwest U.S. regional market, according to the company.

FMC Corp.'s Philadelphia, Pa., Lithium division has opened a new kilo laboratory based in Gastonia, N.C.

Old World Industries' industrial chemicals division, Northbrook, Ill., plans to double its existing capacity of ethylene oxide at its Clear Lake, Texas, facility, which it recently acquired from Celanese . Annual ethylene oxide capacity at the plant will increase from 100 million to 200 million lb/yr.