Eastman acquires Sterling Chemicals
Monday, 15 August 2011
Eastman takes-over Sterling Chemicals to resume production of non-phthalate plasticizers.
Eastman Chemical Company announced that it has completed the acquisition of Sterling Chemicals, Inc., a single site North American petrochemical producer, for USD 100 million in cash. This acquisition includes Sterling’s plasticizer and acetic acid manufacturing assets in Texas City, USA. Eastman plans to modify and restart the currently idled plasticizer manufacturing facility to produce non-phthalate plasticizers. This additional capacity will enable the company’s Performance Chemicals and Intermediates segment to serve the growing market demand for non-phthalate alternatives.
Eastman Chemical Company has bought the business of Sterling Chemicals, Inc. for USD 100 million in cash.
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