Eastman expects to find a buyer for PET business in 2010


Executives with Eastman Chemical Co. said in a recent conference call that they believe they will find a buyer for their PET resin business by the end of the year.

During the firm’s second-quarter conference call with stock analysts on July 29, Chief Financial Officer Curt Espeland said that Kingsport, Tenn.-based Eastman has had “strong interest” in the PET unit since announcing it was open to a sale in late April.

“Part of the reason we’ve had strong interest is that anyone who wants to be a leader in North American PET is going to want this asset,” he said. “This gives us the confidence...
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