Eastman sells PET

DAK Americas is proceeding with the acquisition of the integrated PET and PTA business of Eastman Chemical Company and is expecting to close the transaction by the end of January 2011. The operation, launched last autumn, includes two PET resin units, with a combined annual capacity of 675,000 tons, and one PTA unit (600,000 tons). This acquisition follows DAK's purchase of Eastman's PET international operations in Cosoleacaque (Mexico) and Zarate (Argentina) that were completed in the fall of 2007.