Eastman Chemical Sells Batesville Plant

JULY 24, 2006 - Posted at 4:38 p.m. CDT

BATESVILLE, AR - Eastman Chemical Company has reached an agreement to sell its wholly owned Arkansas chemicals and biofuels subsidiary to Viceroy Acquisition Corporation.

The $75 million sale of Eastman S-E and its 408-employee manufacturing plant in Batesville is expected to close in the final quarter of this year, subject to regulatory approval.

Viceroy Acquisition is based in Clayton, Missouri.

Eastman S-E makes specialty organic chemicals for Eastman's performance chemicals segment.  The Batesville plant also makes and markets biodiesel fuels.

(Copyright 2006 by The Associated Press.  All Rights Reserved.)