Issue Date: January 7, 2008
Eastman Advances Exit From Polyester ...
Eastman Chemical confirms that it has entered a definitive agreement to sell its polyethylene terephthalate-related businesses in Europe to Thailand's Indorama Polymers. The price, about $330 million, includes a PET plant in Workington, England, and PET and purified terephthalic acid plants in Rotterdam, the Netherlands. When completed, the sales will wrap up Eastman's exit from PET production outside the U.S. Indorama disclosed negotiations with Eastman late last year (C&EN, Dec. 17, 2007, page 17).
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