Petrochemicals giant Ineos has agreed to buy compatriot Eastman’s Texas City site, including the 600 kt acetic acid plant and all associated third party activities on the site, for about $500 million.
UK chemicals company Synthomer completed its $1 billion acquisition of Eastman Chemical’s adhesive resins business on Apr. 1. The business will form a new division called Adhesive Technologies. Synthomer said the business has a leading position in the global adhesives market, which is exposed to attractive end-markets with resilient GDP+ growth fundamentals.
US chemical company Eastman has entered into exclusive negotiations with Port-Jérôme-sur-Seine in Normandy, France, as the location for a proposed chemical recycling facility. Eastman plans to invest up to $1 billion in the facility that will process about 160,000 t/y of hard-to-recycle polyester waste.
Synthomer has agreed to buy Eastman Chemical’s adhesives resins business for $1 billion in a move that will position the UK chemicals company as the global leader in adhesives technologies.
US chemical and specialty materials producer Eastman has announced plans to increase capacity of Naia filament yarn at its site in Barcelona, Spain. The company said the project will lift capacity by 30% by mid-2021 and more than 50% by the end of 2022, and will serve rapidly growing demand. Naia is a cellulosic fiber made from sustainably sourced wood.
US specialty materials company Eastman Chemical has acquired 3F Feed & Food, a Spanish company specializing in the development of additives for animal feed and human food. Financial details of the transaction were not disclosed. The newly acquired business will become part of Eastman’s Additives & Functional Products segment.
Air Liquide has entered into a long-term agreement with Eastman Chemical for the supply of additional gaseous oxygen, nitrogen and syngas. The extra volumes will support Eastman’s growth and production in Longview, Texas, USA.
Last week’s announcement that photography group Eastman Kodak had received a 25-year, $765 million US government loan to produce active pharmaceutical ingredients (APIs) took the market by surprise. The plan was said to be to secure a national emergency supply, in order to reduce dependence on Chinese and Indian imports.
Former photography giant Eastman Kodak is moving into the manufacture of pharmaceutical ingredients, supported by a $765 million government loan awarded by the administration of US president Donald Trump under the Defense Production Act (DPA).
