Eastman Completes PET-PTA Sale

Eastman Chemical says it has completed the divestment of its European polyethylene terephthalate (PET) and purified terephthalic acid (PTA) assets to Indorama Polymers (Bangkok) (CW, Jan. 7/14, p. 15). The assets include a PET plant at Workington, U.K., and PET and PTA plants at Rotterdam. Total cash proceeds are €224 million ($353 million), Eastman says. “This transaction completes Eastman’s divestitures of its PET and PTA assets located outside the U.S.,” says Gregory O. Nelson, executive v.p. and polymers business group head at...

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