Eastman Chemical to acquire BP's global aviation turbine business

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.

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