Eastman Chemical Company announced it has completed the sale of its PET polymers business related to its manufacturing sites in Cosoleacaque, Mexico and Zarate, Argentina, to ALFA, S.A.B. de C.V. (ALFA), a Mexican industrial company. Terms of the sale were not disclosed.
"This transaction is one more step forward as we implement our strategy to improve the overall financial performance of our PET polymers business," said Gregory O. Nelson, Eastman executive vice president and polymers business group head.
Eastman previously announced that it had entered into an agreement for the sale, subject to customary approvals.