- Eastman Chemical (EMN +1%) agrees to acquire the assets of BP's global aviation turbine engine oil unit to increase its product offerings in the aviation market.
- EMN will merge the BP unit into its specialty fluids and intermediates business; EMN's current global aviation product offerings include its Skydrol aviation hydraulic fluids.
- Financial terms are not disclosed, but the BP unit has annual revenue of ~$100M.
Eastman Chemical to acquire BP's global aviation turbine business
Jan 28 2014, 12:10 ET