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Eastman buys Texas chemical company for $100M

August 9th, 2011 4:17 pm by Staff Report

KINGSPORT (AP) — Eastman Chemical Co. has completed the acquisition of Sterling Chemicals Inc., a petrochemical producer, for $100 million.

Eastman, based in Kingsport, Tenn., said in a news release Tuesday that the acquisition includes Sterling's plasticizer and acetic acid manufacturing assets in Texas City, Texas. Eastman said it plans to modify and restart the currently idled facility.

Eastman has approximately 10,000 employees around the world.

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