January 27th, 2012 by InvestorPoint

KINGSPORT, Tenn., Jan. 27 (UPI) -- Eastman Chemical Co. said it had reached a $4.7 billion agreement to buy Solutia Inc. to help it expand quickly into the Asia Pacific market. "The acquisition of Solutia is a significant step in our growth strategy, and one I am confident will strengthen Eastman as a top-tier specialty chemical company with strong, stable margins," said Jim Rogers, Eastman's chairman and chief executive officer. Eastman Chemical had sales of $7.2 billion in 2011. The Kingsport, T...continued