Eastman Chemical (EMN) And Clariant Ink Agrochemical Deal
Zacks Investment Research | Dec 12, 2018 08:56PM ET
Eastman Chemical Company (NYSE:EMN) has inked an exclusive cooperation agreement with Clariant, a global leader in specialty chemicals. The deal will enable the distribution of Eastman Chemical’s Tamisolve NxG solvent, which is a low-tox and highly effective solvent for the agrochemical industry.
TamiSolve NxG is used in the global plant protection sector including biological control agents, plant growth regulators, fungicides, herbicides and insecticides. Through this exclusive deal, Clariant will globally sell and market TamiSolve NxG under its trade name — Genagen NBP. Genagen NBP is a powerful, water miscible solvent with excellent toxicity labeling for agrochemical formulations.
Notably, the plant protection market is governed by rigid regulations. Eastman Chemical’s latest collaboration with Clariant highlights the parties’ commitment to the industry. By combining the resources and expertise, they aim to put Genagen NBP to the forefront of the agrochemical field. Clariant will bring formulation expertise and market access to support agrochemicals industry and Eastman Chemical will deliver an innovative solution for effective, low-toxicity ingredient.
With the collaboration, Eastman Chemical and Clariant will utilize their individual strengths to introduce more efficient, sustainable and innovative solutions for farmers across the globe. Moreover, the deal is expected to deliver significant business benefits to agrochemical formulators and customers.
Shares of Eastman Chemical have lost 22.1% in the past year compared with the Zacks Investment Research
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