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Eastman to Acquire Sterling Chemicals

7:09 PM MDT | June 22, 2011 | Lindsey Bewley

Eastman Chemical says it will acquire Sterling Chemicals (Houston) for $100 million in cash. Sterling is a single-site plasticizer and acetic acid producer with assets at Texas City, TX. The deal is expected to close in the third quarter.   Eastman plans to modify and restart Sterling’s currently idled plasticizer manufacturing facility to produce non-phthalate plasticizers. This additional capacity will enable the company’s performance chemicals and intermediates (PCI) segment to serve the growing market demand for non-phthalate alternatives...

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