Eastman reviews options for performance polymers business

Global chemical company Eastman has announced a ‘review of strategic options’ for its PET business in the Performance Polymers segment.

According to the US-headquartered company, this includes exploring the possibility of a possible divestiture.

Bank of America Merrill Lynch has been appointed as the company’s exclusive financial advisor for the review.

Eastman manufacturers chemicals, plastics and fibres to several industries including cosmetics and personal care, and the company achieved sales of $5bn (€3.77bn) in 2009.

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