Eastman Chemical to close PET facility in Spain

Eastman Chemical Co. plans to permanently close a non-integrated polyethylene terephthalate (PET) manufacturing site in San Roque, Spain. "An untenable labor situation" led to the decision to permanently close the site, despite Eastman considering several alternatives. The company expects to take a charge in the Q1-2007 related to the closure of the facility, which it does not expect to exceed US$10 million.