Tag Archives: synthetic fibers

Eastman Chemical unloads PET biz for $600M

After years of trying, Eastman Chemical finally has found a way to make money off its PET business — sell it.

The Kingsport, Tenn.-based company announced on Monday it is selling its “PET business and related assets and technology of its Performance Polymers segment” for $600 million to DAK Americas LLC, a subsidiary of the Mexican conglomerate Alfa.

PET, or polyethylene terephthalate, is used in synthetic fibers and food and drink containers.

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