Eastman Chemical Co. says it is cutting an undisclosed number of jobs globally, citing “the ongoing U.S.-China trade dispute” and an economic slowdown in Europe.
Eastman spokeswoman Betty Payne said in a statement Thursday that the chemical and plastics manufacturer has seen reduced demand for its products, and it must do more to manage costs amid “tremendous uncertainty.”
Eastman says is delaying salary raises for employees in certain jobs. The Kingsport, Tennessee-based company also said it is making a “modest and targeted reduction in our workforce.” Payne would not share specific details.
The company reported $10.2 billion in sales last year. CEO Mark Costa said in a Jan. 31 financial report that Eastman had a challenging fourth quarter as demand for specialty products in China fell.
By Adrian Sainz
Source: Associated Press via Fox News
France has launched an offshore green hydrogen production platform at the country’s Port of Saint-Nazaire this week, along with its first offshore wind farm. The hydrogen plant, which its operators say is the world’s first facility of its type, coincides with the launch of another “first of its kind” facility in Sweden dedicated to storing hydrogen in an underground lined rock cavern (LRC).
The project sets up the Hydrogen Valley in Rome, the first industrial-scale technological hub for the development of the national supply chain for the production, transport, storage and use of hydrogen for the decarbonization of industrial processes and for sustainable mobility.
At first glance, hydrogen seems to be the perfect solution to our energy needs. It doesn’t produce any carbon dioxide when used. It can store energy for long periods of time. It doesn’t leave behind hazardous waste materials, like nuclear does. And it doesn’t require large swathes of land to be flooded, like hydroelectricity. Seems too good to be true. So…what’s the catch?