Sector News

Eastman Chemical To Close Workington Acetate Tow Manufacturing Site

March 25, 2015
Chemical Value Chain
(RTTNews) – Eastman Chemical Co. announced that it has decided to close its Workington, UK, acetate tow manufacturing site. Production at the site will cease in April, and site closure is expected to be completed in the third quarter of 2015.
 
As previously indicated, Eastman entered the consultation process with employee and union representatives in response to changes in global market demand for acetate tow.
 
The Workington site has 24,000 metric tons of acetate tow manufacturing capacity. Projected savings from the closure are annual operating costs of approximately $20 million and a total of approximately $20 million of infrastructure capital expenditures planned for the next five years.
 
Eastman manufactures Estron acetate tow, which is a fibrous material downstream customers use to manufacture cigarette filter rods. Eastman will continue to manufacture acetate tow at its facilities in Kingsport, Tenn., and Ulsan, Korea. In addition, Eastman has a joint venture with China National Tobacco Company in Heifei, China.
 
The company noted that the action will result in shut down costs and restructuring charges totaling approximately $100 million primarily in the first half of 2015, approximately $80 million of which are non-cash.

comments closed

Related News

July 3, 2022

Neste acquires European rights to Alterra’s chemical recycling tech for difficult plastics

Chemical Value Chain

Neste has bought the European rights for Alterra Energy’s liquefaction technology, strengthening its chemical recycling capabilities. Alterra is a US-based company that has developed a thermochemical solution for liquefying difficult-to-recycle plastics.

July 3, 2022

Maria Soler Nunez appointed as Head, Group Operations at Lonza

Chemical Value Chain

Lonza appoints Maria Soler Nunez as Head, Group Operations. Maria joins Lonza from Novartis where she has led the quality organization since 2020. Maria will commence her tenure with Lonza Group on 1 August 2022, succeeding Stefan Stoffel, who is retiring from Lonza.

July 3, 2022

AkzoNobel announces Gregoire Poux-Guillaume as new Chief Executive Officer as of November 1, 2022

Chemical Value Chain

AkzoNobel has announced that Gregoire Poux-Guillaume will become the company’s new Chief Executive Officer (CEO) as of November 1, 2022. He will succeed Thierry Vanlancker, who has been CEO and member of the Board of Management since 2017, and whose term of office is coming to an end.