DAK Americas Completes Acquisition of Eastman’s U.S. Integrated PET Business

DAK Americas LLC, Charlotte, N.C., has completed the acquisition of the integrated PET (polyethylene terephthalate) and PTA (terephthalic acid) business of Eastman Chemical Co. The acquisition brings DAK Americas’ total PET resin production capacity to more than 3.4 billion pounds per year in the Americas.

The acquisition includes three production facilities in Columbia, S.C., including two PET resin units and one PTA unit. Both PET resin production units have a combined annual capacity of 675,000 tons. The PTA unit has an annual production capacity of 600,000 tons. The transaction includes the intellectual property for IntegRex PET and PTA.

“The addition of these facilities reinforces DAK’s position as an important player in the global PET marketplace,” says Hector Camberos, president and CEO of DAK Americas. “This will allow DAK Americas to continue to innovate, grow and serve our customers’ needs by expanding our asset base.”

The Columbia site will be integrated into DAK Americas PET and PTA business units, which already have operations in Charleston, S.C., and in Wilmington and Fayetteville, N.C.

The acquisition of Eastman’s Columbia assets follows DAK’s purchase of Eastman’s international PET operations in Cosoleacaque, Mexico, and Zarate, Argentina, which was completed in the fall of 2007.

“Adding these technology options and operations to DAK’s capabilities will allow DAK to expand its PET resin product offerings,” says Tom Sherlock, director of DAK America’s Resins Business.