KINGSPORT, Tenn. (WJHL) — Eastman Chemical Company has entered into a definitive agreement to acquire Industrias del Acetato de Celulosa S.A. (INACSA), which is a Spanish cullulosic yarn producer.
According to a release from Eastman, the acquisition will enable the Fibers apparel market to continue to grow.
“With the acquisition of INACSA, Eastman gains a well-respected yarn producer and a European site that will enhance our ability to support the global textiles supply chain,” said Brad Lich, executive vice president and chief commercial officer. “We look forward to welcoming the INACSA employees to the Eastman team.”
The Kingsport-based company will acquire the entirety of INACSA’s business and assets, including the plant in La Batloria.
The release says that the acquisition should be completed during the third quarter of 2019.