Eastman extends shutdown of Texas cracker to mid-November

26 October 2012 14:58  [Source: ICIS news]

HOUSTON (ICIS)--Eastman Chemical is extending the shutdown of one of its crackers in Longview, Texas, by about three weeks to the middle of November, the CEO of the US-based producer said on Friday.

Jim Rogers said that some of the cracker’s equipment needed additional maintenance work.

The extension could have a negative earnings impact of less than 10 cents on Eastman’s fourth-quarter earnings per share, Rogers told analysts during Eastman’s third-quarter results conference call.

“[The earnings impact] is not a big number, but it’s enough to take a little of the bloom of the rose,” he added.

He did not comment on capacities.

ICIS reported early this month that Eastman shut down a 358,000 tonne/year cracker at Longview for planned maintenance.

Eastman also has two smaller crackers in Longview, each with 141,000 tonnes/year of ethylene capacity.

Additional reporting by William Lemos

By: Stefan Baumgarten
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