Eastman Chemical Co. has finalized plans to sell its polyethylene business to Houston-based Westlake Chemical Corp. for US$255 million in cash. The sale encompasses Eastman Chemical's polyethylene business and epolene polymer business and related assets, along with a 200 mile ethylene pipeline from Mont Belvieu, Texas, to the company's three polyethylene manufacturing plants in Longview, Texas. The transaction is expected to close in Q4-2006.
Eastman Chemical facilities will be a strategic fit for Westlake and would nearly double its polyethylene capacity to more than 2.5 billion lbs pa.
11-Oct-06 
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