Eastman Subsidiary Taminco to Acquire Remaining Shares of Te An Ling Tian Fine Chemical Co., Ltd.

December 12, 2016

KINGSPORT, Tenn., Dec. 12, 2016 – Eastman Chemical Company (NYSE: EMN) announced that its wholly owned subsidiary Taminco BVBA has reached an agreement to acquire the 50 percent of shares of Te An Ling Tian Fine Chemical Co., Ltd. (TALT), its joint venture with Mitsubishi Gas Chemical Company, Inc. and other Japanese investors, that it does not currently own.

Headquartered in Nanjing, China, TALT is a manufacturer of amines and specialty derivatives, including solvents and alklylalkanolamines. Its products will expand the Care Chemicals and Energy businesses of Eastman’s Additives & Functional Products segment.

“This acquisition demonstrates our commitment to the growing markets of home and personal care, water treatment, and energy, in Asia and our global customers. We believe 100 percent ownership of TALT will allow us to work more closely with customers by leveraging our global presence and regional footprint to further innovate and differentiate in these markets,” said Christian Derbez, regional business director, Asia, Additives & Functional Products. “Being located in Nanjing allows us to further expand our amines integration model and platform for future growth and investments in the Asia region.”

The acquisition is expected to close in the first quarter 2017. Terms of the transaction were not disclosed.

Eastman is a global specialty chemical company that produces a broad range of products found in items people use every day. With a portfolio of specialty businesses, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. Its market-driven approaches take advantage of world-class technology platforms and leading positions in attractive end-markets such as transportation, building and construction and consumables. Eastman focuses on creating consistent, superior value for all stakeholders. As a globally diverse company, Eastman serves customers in approximately 100 countries and had 2015 revenues of approximately $9.6 billion. The company is headquartered in Kingsport, Tennessee, USA and employs approximately 15,000 people around the world. For more information, visit www.eastman.com.

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Media:  Tracy Kilgore Addington
423-224-0498 / tracy@eastman.com

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