Posted in | News | Plastics and Polymers | Business | Petrochemicals

Eastman Completes Sale of Polyethylene Business to Westlake Chemical

Dec 3 2006

Eastman Chemical Company today announced it has completed the sale of its polyethylene business to Westlake Chemical Corporation. The sale includes Eastman's polyethylene and Epolene polymer businesses, related assets and the company's ethylene pipeline. The sale is for a purchase price of $255 million, subject to working capital adjustments.

Included in the sale are three polyethylene manufacturing units, an Epolene facility, all of which are located at Eastman's Texas Operations in Longview, and an ethylene pipeline between Mont Belvieu, Texas, and the Longview plant site.

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