Eastman to sells PET businesss


Eastman Chemical Company will sell the PET and PTA business to DAK Americas (Alpek/Alfa group, from Mexico). The operation includes two PET (IntegRex™) facilities with a combined annual capacity of 675 000 tons, and a PTA facility with the annual capacity of 600 000 tons. The three facilities are located in South Carolina (USA) and currently employ 415 people. The transaction is expected to close during the fourth quarter of 2010. The total cash proceeds of the transaction are expected to be $600 million USD.