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The Associated Press August 3, 2011, 2:48PM ET

Eastman buys Dynaloy for undisclosed sum

Industrial chemical maker Eastman Chemical Co. said Wednesday that it acquired the assets of Dynaloy LLC, an Indianapolis-based specialty chemicals maker, from E&A Industries Inc.

Financial terms were not disclosed.

This acquisition includes Dynaloy's inventory, equipment, intellectual property, and customer contracts. Eastman said the addition will boost its electronic materials product line.

Dynaloy makes and sells cleaning solutions for multiple uses, with a particular focus on the semiconductor industry. The business will remain based in Indianapolis.

In afternoon trading, Eastman shares fell $1.72 to $91.26.

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