Eastman licences acetyls co-production tech to Sipchem
09 May 2005 17:48 [Source: ICIS news]
HOUSTON (CNI)--Eastman Chemical will licence its proprietary acetyl co-production technology to Saudi International Petrochemical Company (Sipchem), the companies announced Monday.
The licencing agreement is part of Sipchem's plan to establish a world-scale acetyls complex in
Eastman's acetyl co-production technology will allow for production of acetic acid and acetic anhydride at a cumulative capacity of 460,000 tonne/year. In addition to the technology licence, Eastman will provide technical support and market all acetic anhydride produced from the facility.
Ron Lindsay, vice president and general manager of Eastman's performance chemicals and intermediates business, said: “This second source of acetyls for Eastman will allow us to reliably meet the long-term, growing needs of our global acetic anhydride customers, particularly within the Asia Pacific region."
Sipchem president Ahmed Al-Ohali said: "The acetyl complex represents our planned Phase 2 projects to provide additional growth opportunities for Sipchem and continuing success on our journey to produce value-added products and superior returns for our shareholders.”
Sipchem had previously announced acquiring licencing rights from DuPont for vinyl acetate monomer (VAM).
Sipchem is a Saudi joint stock company founded in 1999 with current paid in capital of $173m (Euro135m) with participation from leading corporate organisations and investors in the Gulf Cooperation Council region. Sipchem operates a 1m tonne/year methanol plant and is constructing a 75,000 tonne/year butanediol plant, scheduled for start-up in December 2005.
Kingsport, Tennessee-based Eastman makes and markets chemicals, fibres and plastics worldwide. It had 2004 sales of $6.6bn.
By: Brian Ford
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