Eastman sells PET plant in Spain.(Eastman Chemical Co.)(mergers and acquisitions)(polyethylene Eterephthalate)

Eastman Chemical says it has agreed to sell its San Roque, Spain polyethylene Eterephthalate (PET) plant to La Seda de Barcelona (Barcelona) for about 50 million [euro] ($65.5 million). The deal includes PET polymers and related polyester resin assets, but not a 1,4-cyclohexanedimethanol plant also located at San Roque, which Eastman plans to permanently shut down.

La Seda says the deal will raise its PET capacity by 175,000 m.t./year, to about 1 million m.t./year. The company has manufacturing plants in: Volos, Greece; San Giorgio di Nogaro, Italy; Istanbul; Portalegre, Portugal; and El Prat de Llobregat, Spain. La Seda says it does not have current plans to shut any …