Eastman's Annual Report: Purchase Price of CLC

[Counterpart]

Eastman's 2014 Annual Report

Extracts from Page 76-77

http://www.readmaterial.com/EMN/EMN_14AR.PDF

 

On December 11, 2014, the Company acquired Commonwealth Laminating and Coating, Inc. ("Commonwealth") for a total cash purchase price of $438 million, prior to post-closing adjustments.

 

Assets acquired and liabilities as of December 11, 2014

Current assets $51 million

Machinery and equipment $38 million

Goodwill $274 million

Intangible assets $125 million

Long-term liabilities $(50) million

--------------------------------------------

Total purchase price $438 million

 

 

 

[Counterpart]

$438 million

 

I am starting a factory!!!

[Counterpart]

Looks like, CLC's former owners offloaded at the market's peak. According to this article, there's a slowdown in our industry:

Eastman Chemical Company expects to reduce non-operations labor by up to 5 percent worldwide, which includes cutting 300 to 350 employees, according to a company statement.
http://www.windowfilmmag.com/2015/12/eastman-chemical-company-to-reduce-non-operations-labor

 

 

“Eastman does not as a practice disclose specific plans within a given business,” Travis Smith, vice president and general manager of Eastman Performance Films, says. “But as a global leader in aftermarket window films and protective films, Eastman remains committed to enabling the growth and success of our dealers and partners around the world.”

The reductions comes as the company faces challenges due to slow global economic growth, according to management.

 

CLC's sales in Asia and BRICS dropped after Eastman paid $438 million for CLC.

I can only speculate the headcounts will be reduced in window film business.

[TTS]

Big Money !! What a windfall !

[Counterpart]

Big Money !! What a windfall !

 

The CLC-seller can grab Wincos-Madico-Sungard family + another Korean factory with their windfall.

 

The CLC-buyer can recoup their $438 million by reducing costs or raising prices.

[Counterpart]

I dedicate this thread to my good pal Smartie

 

For you my friend. You are not alone.

[Counterpart]

Page 58 of Bekaert 2011 Annual Report

BeKaert recorded proceeds of €101.345 million Euros (about US$111-112 million in today's rate) from their disposal of Solargard to Saint Gobain.

 

According to this article

http://www.tampabay.com/news/business/energy/a-qa-with-madico-window-films-a-manufacturer-in-st-petersburg/2140457
The top-3 are Llumar, 3M and Solargard and Madico is 4th "There's a wide gap after the top four in this country."

[Guest bbvaldezjuly4th]

Big Money !! What a windfall !

The CLC-seller can grab Wincos-Madico-Sungard family + another Korean factory with their windfall.

The CLC-buyer can recoup their $438 million by reducing costs or raising prices.

+ another Korean factory? Hmmm

Come on Fat, more specific buddy.

[Counterpart]

+ another Korean factory? Hmmm

Come on Fat, more specific buddy.

 

 

Please excuse fat. I was just mocking at the price.

[Guest bbvaldezjuly4th]

+ another Korean factory? Hmmm

Come on Fat, more specific buddy.

Please excuse fat. I was just mocking at the price.

Fat Cat=Clever Fox

BBV=Clever Fox friend