Jones Day Reps Eastman In $100M Sterling Chemicals Buy

Law360, New York (June 22, 2011, 3:24 PM EDT) -- Eastman Chemical Co. said Wednesday it had struck a deal to buy petrochemical maker Sterling Chemicals Inc. for $100 million in cash as part of its strategy to increase its focus on alternative materials.

The purchase of the Texas City, Texas-based chemical manufacturer falls in line with Eastman's plan to expand its plasticizer product line, the buyer said, particularly its offerings made without the component phthalate, which according to some advocacy groups carries health and environmental risks.

Eastman said it plans to restart production at Sterling's...
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