Thursday, October 28, 2010

Eastman Chemical to sell PET business and related assets for US$600 mln

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.

For more details on Eastman Chemical to sell PET business and related assets for US$600 mln click here

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