Eastman specialty plastic unit to be named Eastman Co.

Chemicals, fibers and plastics maker Eastman Chemical Co. announced that after its planned separation into two companies, its specialty chemicals and plastics unit will be called Eastman Co. and will own 70 percent of the current company's assets.

Eastman Co. is expected to own about 70 percent of the current company's plant, property and equipment assets throughout the world, with the PET plastics and acetate fibers company expected to own the remaining 30 percent, Eastman Chemical said.

Eastman Chemical said it is still working on a name for the PET plastics and acetate fibers company.