KINGSPORT, TENN. - Eastman Chemical Co. will invest $300 million to build a plant that will produce PET resin and purified terephthalic acid in the Netherlands, at the Port of Rotterdam. Construction of the facility, which will produce 286 million pounds per year of PET and 640 million pounds of purified terephthalic acid, is expected to begin in 1996, the company said. The facility should begin operations by the first quarter of 1998.
Eastman expects to increase its PET capacity to 3.4 billion pounds by the end of 1998 with projects in Europe, Latin America and North America.
Headquartered in Kingsport, Eastman makes and markets chemicals, fibers and plastics. Sales in Europe accounted for 12 percent of Eastman's $4.3 billion 1994 sales.