Issue Date: February 26, 2007
Eastman Will Sell Spanish Plant
Eastman Chemical has agreed to sell its polyethylene terephthalate plant in San Roque, Spain, to La Seda de Barcelona, a Spanish synthetic fibers firm, for about $65 million. Eastman earlier said it was planning to close the 175,000-metric-ton-per-year facility and a related plant making the polymer intermediate 1,4-cyclohexanedimethanol. The company says it still will close the intermediate plant. La Seda says the deal will increase its PET capacity to 1 million metric tons per year.
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