Page 163 - CW E-Magazine (10-10-2023)

News from Abroad

DIVESTITURE

Eastman to sell acetyls operations at Texas to Ineos

for $490-mn

US-based Eastman Chemical has
agreed to sell its Texas City Opera-
tions (Texas, USA) to Ineos Acetyls, a
manufacturer of acetic acid and related
chemicals owned by the UK-based
Ineos Group.

Texas City Operations is currently
part of Eastman’s Chemical Interme-
diates segment. Eastman will retain ments at closing. Eastman plans to use take advantage of competitively priced
ownership of its plasticiser business the proceeds from the divestiture in the feedstocks, which will help support our
at the site, which Ineos will operate near term for debt repayment. future growth of our business and the
for Eastman as part of this agreement. sustainable future of the site.”
Eastman and Ineos have also entered Mr. Erwin Dijkman, Division Presi-
into a Memorandum of Understand- dent, Eastman’s Chemical Intermedi- Eastman will continue to manufac-
ing to explore options for a long-term ates, said, “Our Texas City Operations ture acetyls at its Tennessee Operations
agreement for supplying vinyl acetate is an attractive site with an incredible in Kingsport. Mr. Dijkman added, “As a
monomer (VAM) to Eastman. team of people, and we are pleased global leader in acetyls, we remain com-
that Ineos plans to further invest in mitted to maintaining our position and to
The total sale price of $490-mn and grow the site. We look forward serving our current markets. We will also
consists of approximately $415-mn to working closely with Ineos as we continue to pursue attractive opportuni-
cash at closing and the remainder in prepare for a seamless transition later ties created by our integrated cellulosics
equal instalments on the first and sec- this year, and longer-term as operators stream in Kingsport, such as our recent
ond anniversaries of the closing. The of our plasticiser assets at the site.” growth in textiles and expected growth
final purchase price is subject to work- Mr. David Brooks, CEO of Ineos Acetyls, of our Aventa Renew compostable mate-
ing capital and other customary adjust- added, “The site is ideally placed to rials in food service applications.”
PROJECT UPDATE

Bartek on track to begin operations at new malic &

fumaric acid facility next year

Canada-based manufacturer of malic to new capabilities for a variety of new
acid, fumaric acid, and maleic anhy- products.” Bartek expects the new faci-
dride, Bartek Ingredients, recently pro- lity to set a new global benchmark for
vided an update on the progress on the plant safety, efficiency, and environ-
“world’s largest malic and fumaric acid mental performance. Among its antici-
manufacturing facility” being set up pated accomplishments is a doubling of
by the firm. The project, which broke Bartek’s production capacity and a per
ground in January 2023, is on schedule unit greenhouse gas emissions reduc-
to deliver product to customers by the tion of more than 80 percent.
end of September 2024, it said.
CEO Mr. John Burrows said. “We are Headquartered in Ontario, Bartek
“We are proud to confirm that we really excited to deliver our expanded employs 120 people across its two pro-
are progressing as expected,” Bartek’s capacity by next summer, in addition duction facilities in Southern Ontario.

Chemical Weekly October 10, 2023 163

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