Hercules, Eastman agree on resins business transaction

Hercules Incorporated and Eastman Chemical Company announced today they have reached agreement related to Eastman's acquisition of Hercules' hydrocarbon resins business and select portions of its rosins resins business. (To see related story, click here.)

The parties anticipate closing the transaction by the end of the first quarter. Consummation of the transaction is subject to definitive documentation and Board approvals. Financial terms are not being disclosed.

Hercules manufactures and markets chemical specialties globally for making a variety of products for home, office and industrial markets. For more information, visit the Hercules website at www.herc.com.

Headquartered in Kingsport, Eastman manufactures and markets plastics, chemicals and fibers. The company employs approximately 15,000 people in more than 30 countries and had 2000 sales of US$5.3 billion. For more information about the company, visit www.eastman.com.

Source: Hercules Incorporated

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