Eastman Chemical Company (NYSE:EMN) has agreed to acquire the business and assets of Matrix Films, LLC, marketer of PremiumShield performance films, including its extended line of automotive film patterns.
This acquisition will expand Eastman's paint protection film pattern development capabilities, pattern database, and installation training expertise. It will also complement Eastman's automotive dealer base in North America, Europe and the Middle East to drive growth in paint protection films and window films.
"We are excited to add the experience, capabilities, and dealer base of the PremiumShield team to Eastman's industry leading team to jointly create greater strength and differentiation," said Erin Bernhardt, general manager of the Performance Films business of Eastman's Advanced Materials segment. "The combination of PremiumShield's experienced team and extensive pattern database creates great growth synergies and will further establish Eastman as an industry leader in performance films."
The acquisition is expected to close in 2021. Terms of the agreement were not disclosed.
Founded in 1920, Eastman is a global specialty materials company that produces a broad range of products found in items people use every day. With the purpose of enhancing the quality of life in a material way, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. The company's innovation-driven growth model takes advantage of world-class technology platforms, deep customer engagement, and differentiated application development to grow its leading positions in attractive end-markets such as transportation, building and construction, and consumables. As a globally inclusive and diverse company, Eastman employs approximately 14,500 people around the world and serves customers in more than 100 countries. The company had 2020 revenues of approximately $8.5 billion and is headquartered in Kingsport, Tennessee, USA.
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