11 May 2011 18:34 [Source: ICIS news]
Eastman Chemical plans to expand its Tritan capacity at its
“The first 30,000 tonnes of capacity we built for Tritan we started it out January 2010 and it was sold out by the end of 2010,” said Costa.
“We are rushing to have ready another 30,000 tonnes which will be ready in the first quarter of 2012 - a total of 60,000 tonnes,” he added.
The company is also planning to expand its capacity for cellulose triacetate by 75% at the site by implementing new technology.
Eastman will expand its cyclohexane dimethanol (CHDM) capacity by 25% at the
At Eastman's first quarter earnings conference, company CEO, Jim Rogers said that Eastman expected to make two or three small-to-medium sized acquisitions this year.
“If you look at where we are, we have four businesses doing well, producing a lot of cash, we have the cash generated from the polyethylene terephthalate (PET) business and we have a strong balance sheet at the moment, the cash that we have available and the debt – so we are in a good position. We are pushing hard on a couple of our organic expansions,” Costa said.
“It’s supply driven not just demand driven. I think for the second half of the year we would expect some moderation to propylene prices from where they are in April/May but not dropping to where they have been on a historical basis," he added.
“We’ve seen a dramatic development in the
For more on Eastman visit ICIS company intelligence
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