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February 6, 2001
By: TOM BRANNA
Editor
Eastman Chemical, Kingsport, TN announced it will separate its cyclical polyethylene-plastic business from its more specialized chemical and plastics businesses. The two companies, with sales of $3 and $2 billion, respectively, will be created through a tax-free distribution to shareholders.The move is an attempt to unlock some of the market value of its less-cyclical specialty chemicals businesses by breaking them away from commodity PET.“It’s becoming increasingly clear to us that ...
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