Eastman Chemical Company announces that it has entered into a definitive agreement to acquire Industrias del Acetato de Celulosa S.A. (INACSA), a Spanish producer of cellulosic yarn. The INACSA yarn business and assets are expected to support continued growth of Naia cellulosic yarn for the apparel market and will become part of the global fibers segment supply base.
Subject to receipt of required regulatory approvals and satisfactory closing conditions, Eastman will acquire the entire yarn business and assets from INACSA, including the plant and assets in La Batllòria, Spain, formulations and intellectual property, and customer contracts. The acquisition is expected to be completed in the third quarter of 2019.
INACSA manufactures Greencel cellulose fibers that are extracted from wood pulp of natural, organic origin. Eastman is a global specialty materials company that produces a range of advanced materials, additives and functional products, specialty chemicals and fibers.