Eastman to acquire Sterling Chemicals

29-Jun-2011

Purchase will serve growing demand for non-phthalate alternatives

Eastman Chemical Company has announced it is to acquire Sterling Chemicals, a US petrochemical producer. The $100m cash agreement will enable Eastman to serve the growing demand for non-phthalate alternatives through its Performance Chemicals and Intermediates (PCI) division and includes Sterling’s plasticizer and acetic acid manufacturing assets in Texas, which it plans to modify to produce non-phthalate plasticizers.

“This acquisition supports our growth strategy for our plasticizer product line and will enable us to keep pace with the growing demand for non-phthalate alternatives,” commented Ron Lindsay, executive vp, PCI. “We look forward to working with Sterling employees as we bring this additional capacity online and continue to grow this business.”

Features Companies