Solvay completes purchase of Eastman’s share in former US JV Primester

10-Jun-16

Eastman Chemical had agreed earlier this year, to divest its interest in the Primester cellulose acetate flake joint venture in Kingsport to its partner Solvay. Solvay has completed the purchase of Eastman’s share in their former US joint venture Primester. Both companies were equal partners in the joint venture. As the sole owner of the cellulose acetate flake plant, Solvay has secured the most economical long term supply for its own tow businesses while adapting capacity to demand.

Eastman will provide the long-term supply of basic utilities and raw materials to the Kingsport, Tennessee-based plant. The sale of interest in Primester will enable Eastman Chemical to eliminate costs related to the excess cellulose acetate flake capacity of the joint venture.