SOLVAY
Purchase of Eastman's stake in Primester joint venture completed
Shortly after announcing plans to acquire Eastman’s (Kingsport, Tennessee / USA; www.eastman.com) share in their 50:50 cellulose acetate flake joint venture Primester (see Plasteurope.com of 30.05.2016), Solvay (Brussels / Belgium; www.solvay.com) said the deal has been completed. The transaction, financial details of which were not disclosed, was wrapped up in early June.
Under the terms of the agreement, Eastman will continue to supply the Kingsport-based company with basic utilities and raw materials. Solvay said the purchase means it has secured “the most economical long-term supply for its own tow businesses while adapting capacity to demand.”
Under the terms of the agreement, Eastman will continue to supply the Kingsport-based company with basic utilities and raw materials. Solvay said the purchase means it has secured “the most economical long-term supply for its own tow businesses while adapting capacity to demand.”
16.06.2016 Plasteurope.com [234308-0]
Published on 16.06.2016
German version of this article...