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DAK Americas to Acquire Eastman’s U.S. Integrated PET Business

Carolina Headlines - Bioscience

CHARLOTTE, NC – DAK Americas LLC (DAK) announced that it is proceeding with the acquisition of the integrated PET and PTA business of Eastman Chemical Company (“Eastman”) and is expecting to close the transaction by the end of January 2011. The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired without request for additional information from the U.S. Federal Trade Commission.

The acquisition includes three production facilities in Columbia, SC, USA; including two PET Resin units and one PTA (Monomers/Ingredients) unit. The transaction includes the intellectual property for IntegRex™ PET and PTA. 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 Columbia site will be integrated into DAK Americas PET and PTA business units which also have operations in the U.S in Charleston, SC; Wilmington, NC; and Fayetteville, NC. The acquisition of Eastman’s assets in Columbia, SC follow DAK’s purchase of Eastman’s PET International operations in Cosoleacaque, MX and Zarate, Argentina that were completed in the fall of 2007.

Polyethylene Terephthalate (PET) Resin is widely used for the production of carbonated soft drink and water bottles, as well as, other food and consumer product packaging applications. Terephthalic Acid (PTA) is one of the main raw materials use in the production of PET Resin and other polyester based products.

About DAK Americas LLC
DAK Americas (www.dakamericas.com , headquartered in Charlotte, NC, is wholly owned by Alfa S.A.B. de C.V. of Monterrey Mexico. DAK Americas is comprised of four business units: Polyethylene Terephthalate Resins (PET), Polyesters Staple Fibers (PSF), Monomers/ ingredients (TPA/PTA), and Specialty Polymers. DAK is one of the largest integrated producers of PET resins in the world and the main producer of polyester staple fibers in the Americas. DAK is focused on the future with numerous Sustainability initiatives across its businesses.

About Alfa S.A.B. de C.V.
ALFA is a Mexican company comprising four business groups: Alpek (petrochemicals), Nemak (aluminum auto components), Sigma (refrigerated food) and Alestra (telecommunications). ALFA is the world’s leading manufacturer of high-tech aluminum engine heads and blocks. It is one of the world’s largest producers of PTA, a petrochemical product, and has a leading market share in other petrochemicals in Mexico. In addition, ALFA is Mexico’s leading producer of processed meats and cheese and one of the most important telecommunications services companies in Mexico. For 2009, ALFA reported revenues of US$8,536 million and EBITDA of U.S. $1,055 million. Currently, ALFA has manufacturing operations in 16 countries and employs more than 52,000 people. ALFA´s shares are quoted on the Mexican Stock Exchange and on Latibex, the market for Latin American shares of the Madrid Stock Exchange.

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