EASTMAN ACQUIRES G-LOG’s INTEREST IN SHIPCHEM

EASTMAN ACQUIRES G-LOGÆS INTEREST IN SHIPCHEM    Eastman Chemical Co. has acquired G-Log's interest in ShipChem Inc., the provider of shipping and logistics services for the chemical and plastics industry. Terms of the deal were not disclosed.
   ShipChem will continue as a licensee of G-Log's logistics software and G-Log's software will continue to be a component of the ShipChem offering, said Mark A. Kaiser, chief executive officer of ShipChem.
   Atlanta-based ShipChem was launched in February 2000.
   Eastman, based in Kingsport, Tenn. is one of the nation's largest shippers and had 2000 sales of $5.3 billion.
   “Our increased level of investment demonstrates our confidence in ShipChem's global leadership position in the chemical and plastics industries and in its ability to deliver comprehensive logistics solutions that no one else can offer,” said Earnest W. Deavenport Jr., Eastman's chairman and CEO.
   G-Log, based in Shelton, Conn., provides Internet-based Global Enterprise Transportation software for manufacturers, distributors, retailers, third-party logistics providers, net market exchanges and logistics portals.