Earnest W. Deavenport Jr., chairman and chief executive officer, said the action is part of the company's previously announced strategic plan to improve earnings and position Eastman for future growth. "We're continuing to work toward optimizing our current capacity in a way that will better serve our customers, reduce our costs and improve our earnings," Deavenport said.
Lawter produces resins for the graphic arts, coatings and adhesives industries at the Moundville site. Those products include hydrocarbon, rosin ester, polyamide, polyketone and acrylic resins.
J. Brian Ferguson, president of Eastman's Chemicals Group, said Lawter will begin phasing out production at Moundville by the end of the year and that he expects the site to be closed during the second quarter of 2002.
For more information, visit www.eastman.com.
