Eastman Chemical Co. announced it acquired Ai-Red Technology (Dalian) Co., a manufacturer and supplier of paint protection and window film for auto and architectural markets in the Asia Pacific region.
Terms of the agreement were not disclosed.
Reason for the acquisition
This acquisition demonstrates Eastman’s commitment to driving growth in performance films and the paint protection and window film markets. The investment further strengthens the company’s ability to deliver consistent, superior value as a specialty materials company and expands the service level in China and the Asia-Pacific region. This site will align with Eastman Performance Films operations and its high standard of quality supply into the market.
What the company says
“This acquisition provides additional capacity to serve the growing demand for our paint protection and window film products and creates additional capacity for innovation and product scale-up from our existing operations,” says Erin Bernhardt, vice president and general manager of the Performance Films business of Eastman’s Advanced Materials segment. “By adding this capacity and team to Eastman’s industry-leading team, technologies and brands, we expect to accelerate an already aggressive growth trajectory in automotive and architectural aftermarket films.”
