Corrected: Eastman mulls derivatives plant at Texas site

01 February 2013 14:45  [Source: ICIS news]

Correction: In the ICIS story headlined "Eastman mulls derivatives plant at Texas site" dated 1 February 2013, the story originally stated in the fifth paragraph that Eastman was considering options for an inactive cracker at its Longview, Texas site. This refers to a cracker that has been idle for several years, rather than to a cracker that went offline in late December 2012. That cracker is currently operational. A corrected story follows.

LONDON (ICIS)--Eastman Chemical is considering the construction of a derivatives plant to consume materials produced at its Longview, Texas, facility, the US-based chemicals company said on Friday.

Speaking following the publication of its fourth-quarter 2012 earnings on Thursday, Eastman CEO Jim Rogers said that the company is in discussions with several parties regarding the potential construction of a derivatives plant on the site, with a view to making a decision within the first half of the year.

Rogers said: “We’ve had a team working on options for a number of months now, and they are currently engaged with multiple external parties that have strong interest in a variety of different options.

“These options include some of the parties potentially building a derivatives plant at our Longview site. While it is difficult to predict timings, one common theme as we’ve been in discussions with third parties is an interest in getting something down in the first half of the year, an interest we share,” he added.

According to Rogers, the company is also considering options for a cracker at the site that has been idle for several years.

This is separate to the 141,000 tonne/year cracker which went down on 27 December 2012 as a result of an unplanned outage. That unit was brought back online in January.

The company also operates a 358,000 tonne/year cracker at the site, as well as another 141,000 tonne/year facility.

By: Tom Brown
+44 208 652 3214

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