Eastman Chemical Co. has agreed to sell its polyethylene terephthalate (PET) business and related assets of its performance polymers unit to DAK Americas LLC for about US$600 million in cash. Since Appril, Eastman has sold off parts of it, and has been considering strategic alternatives, including a possible sale of the rest of the unit on which the company has been losing money over the past several years.
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Thursday, October 28, 2010
Eastman Chemical to sell PET business and related assets for US$600 mln
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