INEOS completed the acquisition of Texas City operations from Eastman Chemical Company for $490m.

INEOS, a chemical producer that manufactures petrochemicals, specialty chemicals, and oil products, completed the acquisition of Texas City operations from Eastman Chemical Company, a global specialty chemicals company that produces a range of advanced materials, for $490m. “We are happy to have reached this agreement with INEOS. They have been a strong partner with us at the Texas City site and have extensive experience and a complementary position in the acetyls space. Our Texas City Operations is an attractive site with an incredible team of people, and we are pleased that INEOS plans to further invest in and grow the site. We look forward to working closely with INEOS as we prepare for a seamless transition later this year, and longer-term as operators of our plasticizer assets at the site,” Erwin Dijkman, Eastman Division President.