MOSCOW (MRC) -- Eastman Chemical has announced a planned increase in its Eastman Texanol ester alcohol manufacturing capacity in Longview, Texas, reported Hydrocarbonprocessing.
The plant expansion is expected to be complete in the second half of 2016 and will increase capacity by more than 20%.
In addition to its largest Texanol site in Longview, Eastman also manufactures the product at its Jurong Island, Singapore site and at its joint venture in Zibo, China.
"This expansion at our largest and fully integrated site positions Eastman to meet the needs of coalescent customers around the world," said Lucian Boldea, vice president and general manager of Eastman’s additives and functional products segment. "This investment further solidifies Eastman’s leading position in the architectural coatings market."
Texanol ester alcohol is a coalescent used in latex paints found in the building and construction market. Eastman coalescents enable maximum film formation by softening latex particles and allowing them to fuse into a tough, continuous film, improving overall paint performance.
Common coalescents include ester alcohols, esters, and glycol ethers.
As MRC wrote before, in early December, Eastman Chemical Company announced the completion of its acquisition of Taminco Corporation, a global specialty chemical company, for a total of USD2.8 billion in cash and assumed debt. The acquired Taminco businesses are expected to be accretive to 2015 earnings per share by greater than USD0.35, excluding acquisition-related costs and charges, and to 2016 earnings per share by greater than USD0.60.
Eastman is a global specialty chemical company that produces a broad range of products found in items people use every day. With a portfolio of specialty businesses, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. Its market-driven approaches take advantage of world-class technology platforms and leading positions in attractive end-markets such as transportation, building and construction and consumables. Eastman focuses on creating consistent, superior value for all stakeholders. As a globally diverse company, Eastman serves customers in approximately 100 countries and had 2013 revenues of approximately USD9.4 billion. The company is headquartered in Kingsport, Tennessee, USA and employs approximately 14,000 people around the world.
MRC
MOSCOW (MRC) -- Celanese Corporation, a global technology and specialty materials company and a global leader in EVA emulsions, will increase list and off-list selling prices of the products stated below effective January 1, 2015, or as contracts allow, reported the company on its site.
Thus, prices of acetic anhydride will increase by USD50/mt in Americas.
As MRC informed previously, Celanese Corporation raised November prices of vinyl acetate-based emulsions sold in the Americas. Thus, PVAc homopolymer, EVA and vinyl acrylic emulsions increased by up to USD0.05/wet pound effective November 1, 2014, or as contracts allowed. This increase was attributed to the continued pressures on raw materials, notably vinyl acetate monomer (VAM), and freight and affected all applications including, but not limited to, adhesives, paints and coatings, building products, nonwovens, glass fiber, carpet, paper and textiles.
Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Based in Dallas, Texas, Celanese employs approximately 7,400 employees worldwide and had 2013 net sales of USD6.5 billion.
MRC
MOSCOW (MRC) -- In line with The Dow Chemical Company’s objective to strengthen its geographic focus, Deborah Borg, vice president of the Human Resource Partner Organization, has been named president of Dow USA, reported the company on its site.
In this role, she will continue to be based in Midland, Michigan, and will report to Joe Harlan, chief commercial officer and vice chairman, Market Businesses, and will be fully accountable to the Office of the Chief Executive.
"As we have said many times, our efforts are concentrated in select markets where we can be narrowly, but more deeply focused, and this requires a local approach to running our global businesses," says Harlan. "Deborah has been a key partner with our businesses throughout her career with Dow. In addition, she has played an invaluable role in the development and implementation of the Company’s corporate strategy. Her experiences will help set a clear path forward for our growth objectives in the United States."
In this role, Borg will be responsible for coordinating Dow’s activities across the United States. She will develop and oversee a strategy for Dow USA, coordinating closely with the businesses, functions and operations to drive results. Borg will play an instrumental role in representing Dow's interests to key stakeholders, including customers, suppliers, joint venture partners, key government organizations, and our communities. She will serve as a company spokesperson and manage issues that affect US government policy, public policy and Dow’s businesses.
Andrew N. Liveris, Dow chairman and chief executive officer stated, "Many large global corporations, like Dow, are increasingly focusing on their home location - the United States - as a market with incredible opportunities. The need for a strong leader to represent our interest and to develop and oversee a strategy in the US has been in discussion for some years, and with Deborah’s appointment, we are now ready to fully address the opportunities for Dow."
As MRC wrote before, in November 2014, Dow Chemical announced an increased divestiture target aligned to further enhance the value of its portfolio and support the company’s market-driven, integrated strategy. On track to complete its goal of realizing USD4.5 billion to USD6 billion in proceeds by year-end 2015, and with additional portfolio management actions underway, Dow is now increasing its divestiture target to USD7 billion to USD8.5 billion to be complete by mid-2016. Since 2013, the company has generated USD2.5 billion in proceeds, reallocating this capital to remunerate shareholders, fund growth and reduce debt.
The Dow Chemical Company is an American multinational chemical corporation. As of 2007, it is the second-largest chemical manufacturer in the world by revenue (after BASF) and as of February 2009, the third-largest chemical company in the world by market capitalization (after BASF and DuPont). Dow is a large producer of plastics, including polystyrene, polyurethane, polyethylene, polypropylene, and synthetic rubber.