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KINGSPORT, US: Eastman Chemical Company has completed the acquisition of BP’s global aviation turbine oil business. The acquired business is expected to be accretive to 2014 earnings excluding acquisition-related costs and charges. The newly acquired business is part of Eastman’s Specialty Fluids & Intermediates business segment.
“This acquisition brings a profitable and growing specialty chemical business to our portfolio that aligns very well with our existing aviation product offerings. Bringing our Skydrol team together with the experienced team from BP’s turbine oil business will provide our customers around the world with an unparalleled level of service for their aviation needs going forward,” said Mike Humby, Vice President and General Manager, Specialty Fluids & Intermediates business segment, Eastman.
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