Lawter International To Be Renamed Eastman Resins, Inc.

Eastman Chemical Company announced that Lawter International, Inc., will be renamed Eastman Resins, Inc., effective July 1, 2002. Eastman acquired Lawter in June 1999.
    
Eastman Resins, Inc., will operate as a wholly-owned subsidiary of Eastman Chemical Company. John O’Mahoney, who is chairman and chief executive officer of Lawter, will continue in the same management position for Eastman Resins, Inc.
    
The name change impacts only Eastman’s U.S. graphic arts business. Renaming these former Lawter sites is an integral step in a global name change program. Some European manufacturing sites previously assumed an Eastman identity, and it is foreseen that other international sites will follow.
    
 “We see this as another important step in identifying the company throughout the global marketplace,” Mr. O’Mahoney said. “And the Lawter brand, symbolizing innovation and product leadership within the graphic arts industry, will continue to represent our products.”
    
Francois Vleugels, vice president and general manager of Eastman’s coatings, adhesives, specialty polymers and inks business, said, “Combining the prestige and good name of the two companies allows us to take advantage of more wide-reaching recognition.”
    
“The phrase coined at the time of the acquisition, ‘Together we are better,’ has stood the test of time, and the ink industry has benefited from our partnership to date with Eastman,” said Mr. O’Mahoney. “The ink industry is increasingly challenged, as production moves offshore, combined with a difficult economic climate and the effects of increasing globalization which continue to challenge the domestic industry. Eastman’s global prowess in its manufacturing, innovation and product capabilities significantly supplements Lawter’s own capabilities, making the combination a more accomplished supplier to the ink industry.
    
“The acquisition of Hercules was another important piece of the equation, adding extensive rosin resin and hydrocarbon capabilities on both the technology and manufacturing fronts,” Mr. O’Mahoney added.
    
Mr. O’Mahoney said that the integration of these businesses will continue to provide further synergies and an ability to bring customer solutions on a scale not envisioned or attainable as a stand alone entity.
    
The name change has no impact on customers. Mr. O’Mahoney said the company is committed to delivering new solutions that meet the demanding needs of the graphic arts industry. “Customers can continue to rely on the application and formulation expertise that they have come to expect from Lawter Graphic Arts Technologies,” Mr. O’Mahoney said.