EASTMAN CHEMICAL COMPANY ACQUIRES AI-RED TECHNOLOGY, FURTHER STRENGTHENING ITS POSITION IN THE PAINT PROTECTION AND WINDOW FILM MARKETS
Eastman Chemical Company has recently announced that it has acquired Ai-Red Technology (Dalian) Co., Ltd., a prominent manufacturer and supplier of paint protection and window film for automotive and architectural markets in the Asia Pacific region. This strategic acquisition highlights Eastman’s commitment to driving growth in Performance Films and the paint protection and window film markets, while strengthening the company’s ability to deliver consistent, superior value as a specialty materials company in China and the Asia Pacific region.
As a leading provider of high-quality materials and solutions, Eastman is dedicated to delivering innovative, cutting-edge products and services to its customers. By acquiring Ai-Red Technology, Eastman gains additional capacity to meet the growing demand for its paint protection and window film products, while also expanding its operational and service capabilities in the region.
Erin Bernhardt, the vice president and general manager of the Performance Films business of Eastman’s Advanced Materials segment, expressed excitement about the acquisition, stating, “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. 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.”
The terms of the agreement were not disclosed. Nonetheless, this acquisition is expected to have a positive impact on the paint protection and window film markets in the Asia Pacific region and beyond, and further solidifies Eastman Chemical Company’s position as a leading provider of specialty materials and solutions.
Source:Eastman with additional information added by GlassBalkan
