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

October 26, 2010

Transaction is expected to close in the fourth quarter.

DAK Americas LLC (DAK) has agreed to acquire the integrated PET and PTA business of Eastman Chemical Company (“Eastman”). Total cost for the transaction is expected to be approximately $600 million. The transaction is expected to close in the fourth quarter or this year pending regulatory approvals.

“DAK Americas is extremely excited about the acquisition as it further reinforces DAK ‘sposition as an important regional player in the global PET marketplace,” said Hector Camberos, president and CEO, DAK Americas.

Jose Valdez, president of Alpek , ALFA’s petrochemical group said,“Alfa and its Alpek business remain committed to PET Resin and PTA in the Americas and the value they bring to DAK’s PET Resin customers and the market place.”

The acquisition includes three production facilities in Columbia, SC,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 operations being acquired currently employ approximately 415 people.

Jorge Young, executive vice president, Resins, DAK Americas, added, “The acquisition allows DAK to continue to innovate, grow, and serve customers needs by expanding the asset base.”

"Added technology options will allow DAK to expand its PET Resin product offerings,” said Tom Sherlock, Resins business director, DAK Americas.

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