The joint venture with Sinopec Yangzi Petrochemical Company will add a world-scale manufacturing plant in Nanjing, China. The new facility will be equally owned between the two companies and will produce 50,000 metric tons of Regalite resins upon completion. The facility is expected be online by the end of 2014 and will increase Eastman’s total capacity for hydrogenated hydrocarbon resins by 50%. As a part of the expansion and Eastman’s commitment to the adhesives industry, technical resources will also be added in the region.
“This joint venture uniquely positions Eastman to meet the needs of customers by serving the expanding Asian market and reaffirms our commitment to building the hydrogenated hydrocarbon resins business,” says Phil Byers, director of the adhesive’s business in Eastman’s Adhesives and Plasticizers segment. “Eastman is dedicated to growing with our customers and helping them to meet demand in China and all of Asia by providing a reliable supply of Regalite for years to come.”
Eastman and Sinopec Yangzi Petrochemical Company (YPC) have an existing joint venture for the manufacture of Eastman Eastotac resins in Nanjing, China. The manufacturing site will be expanded for the new facility. The joint venture leverages the proximity of YPC’s integrated petroleum complex with Eastman’s technology and market positions.
Regalite hydrogenated hydrocarbon resins are used extensively in a wide variety of hot-melt adhesives, polymer compounds and plastic modifications. Thanks to their versatility and broad compatibility, Regalite resins can be formulated with a wide range of polymers, and offer excellent color, stability and adhesion. These advantages are essential in such markets as personal hygiene (including disposable diapers) and packaging.
Eastman is a global specialty chemicals company that produces a broad range of advanced materials, additives and functional products, specialty chemicals, and fibers that are found in products people use every day.
Eastman had 2011 pro forma revenues, giving effect to the Solutia acquisition, of approximately $9.3 billion. With the completion of the Solutia acquisition, Eastman employs approximately 13,500 people around the world.