The US companies Eastman Chemical Company and Huntsman Chemical Corporation wrapped up Huntsman's purchase of Eastman's polypropylene business. Though neither company is announcing the financial terms, it is known that Eastman expects to realize net cash, after taxes, in excess of $ 100m as a result of the sale. The transaction is not expected to have any material effect on Eastman earnings for the fourth quarter of 1994. With the purchase of the polypropylene facilities at Texas Eastman Division in Longview, Texas, Huntsman receives approximately £ 500m per year of polypropylene production capacity. T.A. Smith, vice president and general manager of Eastman's Flexible Plastics Business Organisation, said, "Now that the sale is concluded, Eastman's priority is to work with Huntsman to make the transition as problem-free as possible for polypropylene customers."

Eastman manufactures and markets chemicals, fibers and plastics, and reported sales of $ 3.9bn in 1993, tenth among all US chemical companies. Eastman's primary operations are in Kingsport, Tennessee; Longview, Texas; Columbia, S.C.; and Batesville, Ark.; and two sites in the United Kingdom. – Huntsman is the nation's largest privately-held chemical company and is a major producer of polystyrene monomer, polypropylene, ABS, SAN, phenolic, polyester and compounded specialty resins. Huntsman projects 1994 revenues of approximately $ 3.4bn for Huntsman-held companies.