Sector News

Eastman Chemical Considers Closing U.K. Acetate Tow Facility

February 3, 2015
Energy & Chemical Value Chain
Eastman Chemical Co. said Tuesday that it is considering closing its acetate tow manufacturing facility in the United Kingdom as demand for the product slows.
 
The Workington, U.K., site accounts for about 11% of Eastman’s overall manufacturing capacity for acetate tow, a fibrous material used in cigarette filters. Eastman said it also manufactures acetate tow at facilities in Tennessee, Korea and China, the latter through a joint venture with China National Tobacco Co.
 
Eastman said it has notified the trade union and will begin working with representatives through the consultation period. Eastman had about 14,000 employees as of December 2013, according to a regulatory filing.
 
The announcement came just days after the chemical and materials company reported that its fourth-quarter profit plunged on higher acquisition-related expenses. Excluding those expenses and other special items, however, its profit rose to $1.64 a share from $1.35 a year earlier as revenue rose 3.71%.
 
The Tennessee company—which makes chemicals, plastics and synthetic fibers—has been expanding through acquisitions. In December, it bought specialty chemical maker Taminco Corp.—the world’s largest producer of alkylamines, used in agriculture, water treatment and personal care items—and Commonwealth Laminating Coating Inc., a maker of window films and specialty films for the automotive, architectural and protective-applications markets.
 
By Chelsey Dulaney
 

comments closed

Related News

April 26, 2024

CIECH Group will change its name to Qemetica in June

Energy & Chemical Value Chain

We are closing the chapter of the Chemicals Import Export Headquarters, and opening a new chapter under the name of Qemetica – a chemical group driving many industries on all continents. Therefore, the change of name is also accompanied by the adoption of the key goals of the business strategy for the next 6 years. – says Kamil Majczak, President of the Management Board.

April 26, 2024

Neste annouces first success in processing pyrolysis oil from discarded tires

Energy & Chemical Value Chain

In its efforts to advance chemical recycling, Neste has successfully conducted its first processing trial run with a new challenging raw material, liquefied discarded tires. In the processing run, Neste produced high-quality raw material for new plastics and chemicals.

April 26, 2024

Sika opens synthetic fibers production facility in Peru

Energy & Chemical Value Chain

Sika is opening a state-of-the-art facility in Lima, Peru, to produce synthetic macro fibers, and expanding the rollout of a product range with great growth potential in Latin America. With this innovative technology, Sika is further strengthening its position as a leading supplier to the mining industry and a strong partner for infrastructure projects.

How can we help you?

We're easy to reach