LONDON — INEOS has completed the acquisition of the Eastman Texas City, Texas, site, the 600k mt capacity acetic acid plant and all associated third party activities, from Eastman Chemical Company.

Eastman and INEOS have also entered into an MOU to explore options for a longterm supply agreement for vinyl acetate monomer.

“We are delighted to have completed this strategic acquisition which will help drive our global ambition for our acetyls business,” said David Brooks, CEO for INEOS Acetyls. “Our focus now will be on the integration of the site, business and employees into INEOS Acetyls.

The site is ideally placed to take advantage of competitively priced feedstocks which will help support the growth of our business and sustainable future of the site.”

The plasticizers unit on the site will continue to be owned by Eastman, but will now be operated and maintained by INEOS.

All current employees on the Eastman Texas City site have now transferred over to INEOS.

For more information, visit ineos.com.