Eastman to raise global copolyester manufacturing capacity
16 Nov '06
3 min read
"These three segments have had very strong performance, and we expect that to continue," said Ferguson.
Jim Rogers, president of Eastman Chemical Company and head of the chemicals and fibers business group, said, "In addition to Eastman's competitive advantage from coal-based raw materials, our fibers business is benefiting from market trends, including longer cigarette filters in China, the European Union and other countries."
To meet this market growth, Eastman announced earlier this year a 9,000 metric-ton acetate tow capacity expansion at its Workington, U.K., site and is considering a growth option in the Asia Pacific region.
As the world's only acetate yarn manufacturer producing acetate flake raw material, Eastman's acetate yarn business has improved from "contribution to cost of capital margins," according to Rogers.
In Eastman's CASPI segment, Rogers said the company's unique coatings offerings and broad adhesives product portfolio remain key engines for future growth opportunities.
Nelson said that Eastman's new family of copolyesters technology is enabling the company to expand beyond existing markets of personal care, medical and packaging into new markets of building and construction, improved products for medical goods and heat-resistant durables.
Financial Strength Enabling Eastman's Growth In reviewing the company's financial performance, Richard Lorraine, Senior Vice President and CFO, said, "Eastman's financial discipline has resulted in a substantially improved financial profile.
The company has significantly improved its capital structure, has solid operating performance and has more than sufficient cash flow to fund growth initiatives."
marketing@alchempro.com
