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Sterling Chemicals acquired by Eastman Chemical Company

August 12/2011

(Plastemart) -- Eastman Chemical Company has completed acquisition of Sterling Chemicals, Inc., a single site North American petrochemical producer, for USD100 mln in cash. This acquisition includes Sterlings plasticizer and acetic acid manufacturing assets in Texas City, Texas. Eastman plans to modify and restart the currently idled plasticizer manufacturing facility to produce non-phthalate plasticizers. This additional capacity will enable the companys Performance Chemicals and Intermediates segment to serve the growing market demand for non-phthalate alternatives.

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