Eastman exits PET business, finalizes sale of U.S. ops to DAK


DAK Americas LLC (Charlotte, NC) is expecting to close on its acquisition of Eastman Chemical Co.'s (Kingsport, TN) polyethylene terephthalate (PET) business by the end of this month, after completing the antitrust waiting period. DAK's purchase of Eastman's integrated PET and terephthalic acid (PTA) business, which was announced last October, includes three production facilities in Columbia, SC, covering two PET resin units and one PTA unit.

The transaction also includes intellectual property around Eastman's IntegRex PET and PTA technologies. The combined annual capacity of the PET production units is 675,000 tons, while the PTA unit's annual production capacity is 600,000 tons.

The Columbia site joins DAK's North America PET and PTA business units, which have U.S. operations in Charleston, SC; and Wilmington and Fayetteville, NC. DAK acquired Eastman's international PET operations in Mexico (Cosoleacaque) and Argentina (Zarate) in the fall of 2007. DAK Americas is wholly owned by the Mexican conglomerate, Alfa S.A.B. de C.V. (Monterrey). ...
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