DAK Americas completes acquisition of Eastman's U.S. integrated PET business

DAK Americas LLC (DAK) announced that it has completed the acquisition of the integrated PET and PTA business of Eastman Chemical Company (“Eastman”). The acquisition brings DAK Americas total PET resin production capacity to more than 3.4 billion pounds annually (1,515 KTons) in the Americas.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 addition of these facilities reinforces DAK‘s position as an important player in the global PET marketplace,” said Hector Camberos, President and CEO, DAK Americas. “This will allow DAK Americas to continue to innovate, grow, and serve our customers needs by expanding our asset base.” 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, Mexico and Zarate, Argentina that were completed in the fall of 2007. “Adding these technology options and operations to DAK’s capabilities will allow DAK to expand its PET Resin product offerings,” said Tom Sherlock, Resins Business Director, DAK Americas.