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Markets :: Basic Chemicals :: Petrochemicals :: Terephthalic acid

Eastman Sells PET Plant in Spain

1:41 PM MDT | February 28, 2007 | Kerri Walsh

Eastman Chemical says it has agreed to sell its San Roque, Spain polyethylene terephthalate (PET) plant to La Seda de Barcelona (Barcelona) for about €50 million ($65.5 million). The deal includes PET polymers and related polyester resin assets, but not a 1,4-cyclohexanedimethanol plant also located at San Roque, which Eastman plans to permanently shut down. La Seda says the deal will raise its PET capacity by 175,000 m.t./year, to about 1 million m.t./year. The company has manufacturing plants in: Volos, Greece; San Giorgio di Nogaro, Italy; Istanbul...

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