DAK Americas to complete acquisition of Eastman biz by end of month

17 Jan '11

2 min read

DAK Americas LLC (DAK) announced that it is proceeding with the acquisition of the integrated PET and PTA business of Eastman Chemical Company (“Eastman”) and is expecting to close the transaction by the end of January 2011. The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired without request for additional information from the U.S. Federal Trade Commission.

The acquisition includes three production facilities in Columbia, SC, USA; including two PET Resin units and one PTA (Monomers/Ingredients) unit. The transaction includes the intellectual property for IntegRex PET and PTA. Both PET Resin production units have a combined annual capacity of 675,000 tons. The PTA unit has an annual production capacity of 600,000 tons.

The Columbia site will be integrated into DAK Americas PET and PTA business units which also have operations in the U.S in Charleston, SC; Wilmington, NC; and Fayetteville, NC. The acquisition of Eastman's assets in Columbia, SC follow DAK's purchase of Eastman's PET International operations in Cosoleacaque,MX and Zarate, Argentina that were completed in the fall of 2007.

Polyethylene Terephthalate (PET) Resin is widely used for the production of carbonated soft drink and water bottles, as well as, other food and consumer product packaging applications. Terephthalic Acid (PTA) is one of the main raw materials use in the production of PET Resin and other polyester based products.

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