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Eastman Chemical Welcomes Two Tenants to Its Texas City Site

January 09, 2020 / Nasdaq
SHARESHARESHARE

Eastman Chemical Company EMN recently announced collaboration with Air Products, Inc. APD and Gulf Coast Ammonia for a strategic project. This strategic project leverages a part of the available land, infrastructure, and deep-water port at Eastman Chemical’s Texas City site. It will create value through a long-term lease, site service and utility cost sharing, and a strategic off-take deal to buy cost-effective ammonia for manufacturing Eastman Chemical’s specialty products. Notably, Eastman Chemical acquired the Texas City site in August 2011 by purchasing Sterling Chemical, Inc. Soon afterwards, the company restarted idled plasticizer manufacturing capacity to manufacture non-phthalate plasticizers such as Eastman 168 non-phthalate plasticizer.