Industry News

Eastman Cancels Proposed Spin-off

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By: DAVID SAVASTANO

Editor, Ink World Magazine

Eastman Chemical Company said on Feb. 11 that it is canceling its previously announced plan to spin off its specialty chemicals and plastics business.      The company announced its plan for the spin-off in February 2001. Eastman announced Nov. 20 that the planned spin-off would be delayed due to adverse market conditions and the lack of near-term visibility.      J. Brian Ferguson, Eastman’s chairman and CEO, said the company will continue to operate under the divisional structure put in p...

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