Eastman's PET business for sale

On October 26 a definitive agreement with Dak Americas has been announced by Eastman Chemical about the sale of the PET business so far comprised in its Performance Polymers segment. The transaction should be closed within December 2010 for a total amount of 600 million dollar. In addition to the sale of the Performance Polymers PET business, the company approved a restructuring plan to reduce costs.