2006/10/10 Eastman 　　　　　　　　　　　　　　Eastman

Eastman Agrees to Sell Polyethylene Business to Westlake

Eastman Chemical Company today announced it has entered into a definitive agreement with Westlake Chemical Corporation for the sale of its polyethylene business. The sale will include Eastman's polyethylene and Epolene polymer businesses, related assets and the company's ethylene pipeline. The sale is for a purchase price of $255 million in cash at closing.
　　　　*Epolene ：polyethylene waxes

Closing is expected in the fourth quarter of 2006, subject to regulatory approval and customary conditions. The businesses and assets to be divested in this transaction generated approximately $680 million in revenue during 2005.

"Eastman has had a successful presence in the polyethylene businesses for decades," said Brian Ferguson, Eastman chairman and CEO. "While polyethylene is a strong business, Eastman has an uncompetitive ethylene position because of our older cracking facilities. In addition to divesting the polyethylene business to a buyer with a strong ethylene position, we will also take action to improve our olefins cost position. We maintain our commitment to our remaining olefin derivatives product lines at our Texas facility."

Included in the sale are three polyethylene manufacturing plants, an Epolene facility - all located at Eastman's Texas Operations in Longview - and an ethylene pipeline between Mont Belvieu, Texas, and the Texas Operations site. About 400 Eastman employees are associated with the polyethylene and Epolene businesses. Results from the polyethylene product lines are reported in the company's performance polymers segment, while results from the Epolene product lines are reported in the company's coatings, adhesives, specialty polymers and inks (CASPI) segment.

About 255 employees will remain with Eastman and continue producing polyethylene for Westlake. The two companies have an agreement that will allow continued operation of the Longview cracking facilities with a staged phase-out of older units beginning in 2007, allowing both companies to optimize the value of their respective olefin businesses under various market conditions.

"We are pleased to be working with a strong strategic player such as Westlake on this transaction," Ferguson said. "Westlake brings a history of success in the industry, and we look forward to further developing relationships with them as they become a part of the operating site and community in Longview."

Thomas J. Stevens, Eastman vice president and general manager of the performance polymers business, said customers can expect a smooth transition of business. "Eastman plans to continue doing business as we have until the sale is complete. We have long and valued relationships with our polyethylene customers, and we are committed to working closely with Westlake to ensure a smooth transition of these relationships."

Eastman manufactures and markets chemicals, fibers and plastics worldwide. It provides key differentiated coatings, adhesives and specialty plastics products; is the world's largest producer of PET polymers for packaging; and is a major supplier of cellulose acetate fibers. Founded in 1920 and headquartered in Kingsport, Tenn., Eastman is a FORTUNE 500 company with 2005 sales of $7 billion and approximately 12,000 employees.


2006/10/10 Westlake

Westlake Chemical Acquires Eastman's Polyethylene Business; Includes 200-Mile Ethylene Pipeline

Westlake Chemical Corporation announced today that it has entered into a definitive agreement to purchase from Eastman Chemical Company its polyethylene business. The sale will include Eastman's polyethylene and Epolene polymer businesses, related assets and the company's ethylene pipeline. The sale is for a purchase price of $255 million in cash at closing. The transaction is expected to close in the 4th quarter of 2006, subject to standard closing conditions including regulatory review. The business and assets to be acquired in this transaction generated approximately $680 million in revenue during 2005.
The acquisition includes the polyethylene business and associated operating facilities headquartered in Longview, Texas with a capacity of 1,125 million pounds per year of polyethylene. This is comprised of 700 million pounds per year of low density polyethylene (LDPE), 425 million pounds per year of linear low density polyethylene (LLDPE) and a 200-mile, 10-inch ethylene pipeline from Mt. Belvieu, Texas to Longview, Texas. When the transaction is closed Westlake's total polyethylene capacity will be in excess of 2,500 million pounds per year. Westlake will also acquire technology for the production of specialty polyolefin polymers including: acrylate co- polymers; and Epolene(R) polymers for the adhesives, coatings and other consumer products markets, as well as Energx technology for linear low density polyethylenes designed to provide enhanced strength and performance properties.
"The acquisition of the Eastman polyethylene business in Longview, Texas is an excellent strategic fit for Westlake. When completed, this transaction will further strengthen our position in the growing North American polyethylene market and will increase our ability to serve our customers through an improved overall product mix and new product technology and manufacturing capability at multiple sites where we can continue to enhance our ethylene integration strategy. Eastman is known as a well-run technology- oriented company with talented people and we look forward to adding members of this workforce to our top-notch team," stated Albert Chao, Westlake's President and CEO.

Westlake Chemical Corporation (WLK)
Westlake Chemical Corporation is a manufacturer and supplier of petrochemicals, polymers and fabricated products with headquarters in Houston, Texas. The company's range of products includes: ethylene, polyethylene, styrene, propylene, caustic, VCM, PVC and PVC pipe, windows and fence. For more information, visit the company's Web site at http://www.westlakechemical.com .

2006/10/10 Platts

Eastman's planned phase-out of its ethylene capacity at Longview "is positive for the industry," McCarthy wrote. The crackers have a combined nameplate capacity of 1.722 billion pounds per year. Of the four crackers at the site, McCarthy said Bank of America expects that the three smaller crackers at the site will be closed, leaving one cracker at the site, with a listed ethylene capacity 789 million pounds per year.

2006/12/1 Westlake

Westlake Chemical Closes Purchase of Eastman's Polyethylene Business

Westlake Chemical Corporation announced today that all closing conditions, including regulatory review, have been met and it has closed the previously announced acquisition of Eastman Chemical Company's polyethylene business effective yesterday. The purchase includes Eastman's polyethylene and Epolene polymer business lines headquartered in Longview, Texas, related assets and a 200-mile ethylene pipeline. The transaction's $255 million purchase price is subject to a working-capital adjustment and will be funded from current cash balances. The acquired business and assets generated approximately $680 million in revenue during 2005.

Jan. 10, 2007 Eastman Kodak

Kodak to Sell Health Group to Onex for up to $2.55 billion
　Sale fulfills strategic intention to focus investment, increase financial flexibility

Eastman Kodak Company announced today that it has entered into an agreement to sell its Health Group to Onex Healthcare Holdings, Inc., a subsidiary of Onex Corporation, in a move that will sharpen Kodak’s strategic focus on consumer and professional imaging and the graphic communications industry.

Under terms of the agreement, Kodak will sell its Health Group to Onex for up to $2.55 billion. The price is composed of $2.35 billion in cash at closing, plus up to $200 million in additional future payments if Onex achieves certain returns with respect to its investment. If Onex Healthcare investors realize an internal rate of return in excess of 25% on their investment, Kodak will receive payment equal to 25% of the excess return, up to $200 million.

Because of tax-loss carry forwards, Kodak expects to retain the vast majority of the initial $2.35 billion cash proceeds. The company plans to use the proceeds to fully repay its approximately $1.15 billion of secured term debt. Other potential uses of the cash proceeds are under review and will be discussed at Kodak’s previously announced investor meeting, scheduled for February 8.

About 8,100 employees associated with the Health Group will continue with the business following the closing. Included in the sale are manufacturing operations focused on the production of health imaging products, as well as an office building in Rochester, N.Y.

Kodak’s Health Group, with revenue of $2.54 billion for the latest 12 reported months (through September 30, 2006), is a worldwide leader in information technology, molecular imaging systems, medical and dental imaging, including digital x-ray capture, medical printers, and x-ray film.

Onex Corporation, based in Toronto, is a diversified company and is one of Canada’s largest corporations,with annual consolidated revenues of approximately C$20 billion and consolidated assets of approximately C$20 billion. Onex has global operations in health care, service, manufacturing and technology industries. The health care operations include emergency care facilities and diagnostic imaging clinics.

2007/1/26 Eastman

Essar and Eastman Announce Memorandum of Understanding for Joint Oxo Project

Essar Chemicals Ltd., part of India's Essar Group, and Eastman Chemical Company have announced the signing of a memorandum of understanding and the completion of a joint feasibility study regarding potential opportunities for the production of oxo and oxo derivatives for the domestic market in India. (at Essar's refinery site at Vadinar.)

The feasibility study includes plans for a 150,000 tons per year oxo aldehyde plant and its derivatives. Oxo and oxo derivatives are part of Eastman's performance chemicals and intermediates segment. These intermediates are used to manufacture a variety of end-use products such as coatings and paints, solvents and plasticizers.

About Essar Group
Essar Group is one of the fastest growing business groups in India. The Groups businesses span the core and infrastructure segments of the economy - steel, oil and gas, power, mobile telecom, shipping and construction. The Group has an asset base of $6 billion and has approximately 20,000 employees. Essar Chemicals Limited is part of Essar Global Limited, an investment arm of Essar Group. This company will be a vehicle to enter into value added chemicals business and is currently evaluating various options available based on feedstock streams from Essar Oil Limiteds refinery at Vadinar, near Jamnagar in Gujarat.

　

Feb. 20, 2007 Eastman Chemical

Eastman to Sell Spanish Plant

Eastman Chemical Company today announced it has entered into an agreement for the sale of Eastman Chemical Iberia, S.A., located in San Roque, Spain, to La Seda de Barcelona, S.A., located in Barcelona, Spain. The sale includes Eastman's PET polymers manufacturing assets in Spain and the related polyester resins business. The sale is subject to competition authority approvals in Spain. Terms of the transaction, which is expected to close during second quarter 2007, were not disclosed.
 
"We announced at our November 2006 Investor Day that we would be taking strategic actions to address our non-integrated PET polymers assets outside the United States," said Gregory O. Nelson, Eastman executive vice president and polymers business group head. "This agreement is a major step forward as we implement our strategy to improve the overall financial performance of our PET polymers business."

The sale of the San Roque site could change the previously reported decision to permanently shut down the site. It does not impact Eastman's previously announced decision to shut down its CHDM manufacturing assets at the site. The company still expects to record asset impairments and restructuring charges related to the San Roque site in first quarter of 2007.

The transaction covers the Spanish plant and an adjacent PE production line with 134 employees. The acquisition could avert the planned permanent closure of the 160,000 t/y PET facility, which Eastman shut down on 17 January 2007 after a labour dispute.

　

Form 8-K for EASTMAN CHEMICAL CO 31-Jan-2007

Costs Associated with Exit or Disposal Activities

Item 2.05 - Costs Associated with Exit or Disposal Activities and Item 2.06 - Material Impairments

On January 25, 2007, Eastman Chemical Company decided to initiate the closure of its non-integrated PET polymers site in San Roque, Spain. As previously disclosed, the Company has been evaluating various strategic options that include restructuring, divestiture or consolidation of its non-integrated PET manufacturing assets outside the United States. After evaluating the various alternatives, the Company decided to initiate the actions required to permanently shut down the San Roque site due to an untenable labor situation. This decision will impact approximately $45 million of net assets associated with this site and could lead to non-cash impairment charges in the first quarter of 2007. In addition, this decision could result in restructuring charges, primarily severance, which would result in future cash expenditures. The restructuring charges are not expected to exceed $10 million, but are subject to negotiation with third parties. Management expects the underlying costs of and charges related to this decision to be reported as asset impairment and restructuring charges during the first quarter of 2007.

1997/9/25 　　CHDM シクロ・ヘキサン・ディ・メタノール

Eastman CHDM Plant to be Located in Spain; San Roque Site is Adjacent to EASTAPAK Polymers Plant.

Eastman Chemical Company today announced that San Roque will be the location for its previously announced plant to manufacture 1,4-cyclohexanedimethanol (CHDM).

Earnest W. Deavenport, chairman and CEO, said the 27,000 metric ton (60 million pound) CHDM plant will be built adjacent to Eastman's EASTAPAK polymer plant near Gibraltar, in southwestern Andalucia. Deavenport made the announcement during ceremonies to officially open the San Roque plant to produce EASTAPAK polymers, Eastman's polyester resins used in bottle and packaging applications.

"We're excited about Eastman's growth in Southern Europe and other parts of the world," Deavenport said. "Today we celebrate the opening of our EASTAPAK polymer plant and anxiously anticipate Eastman's planned expansion of CHDM at this same site."

Dr. Gerald P. Morie, vice president and general manager of Eastman's Specialty Plastics business, said the primary reason for locating the plant in San Roque is the ability to serve customers in the European region from within the region. "Locating manufacturing facilities close to our customers is an important part of Eastman's globalization strategy."

CHDM is a monomer used in the manufacture of Eastman's increasingly popular SPECTAR and EASTAR copolyester plastics as well as some EASTAPAK polymers, and is sold for applications in coating resins. CHDM provides special properties to polymers that are used in numerous applications including displays, store fixtures, indoor and outdoor signs, sports helmets, medical devices and packaging, electronic packaging, polyester films, protective coatings and plastic bottles.

Eastman currently produces SPECTAR and EASTAR copolyesters at its sites in Kingsport, Tennessee, USA, and Hartlepool, England. A plant under construction in Kuantan, Malaysia, is expected to begin manufacturing those plastics in January 1998.

Morie said the new plant represents a 42 percent increase in Eastman's worldwide capacity for CHDM. Once the CHDM plant is on line, Eastman's annual manufacturing capacity for the product will be 91,000 metric tons (more than 200 million pounds). He said if construction begins as planned in early 1998, the plant could be on-line during the fourth quarter of 1999. The plant is expected to employ about 25 people.

The new plant is expected to incorporate an innovative blend of three CHDM technologies developed by Eastman, Davy Process Technology and TOWA Chemical Industry Co. Inc. of Japan.

Eastman Chemical Company manufactures and markets chemicals, fibers and plastics. Eastman employs 17,500 people in more than 30 countries and had 1996 sales of US$4.8 billion. Corporate headquarters is in Kingsport.

February 23, 2006

Eastman Expands CHDM Capacity

Eastman Chemical Company has announced an expansion project that will enable the doubling of CHDM capacity at its Kingsport, Tenn., site. The project will come on-line in late 2006.

The capacity expansion, which was discussed in January during the company's fourth-quarter sales and earnings conference call and webcast, will provide the scale and integrated assets to enhance Eastman's global copolyester manufacturing capabilities. CHDM is used in the manufacturing of various specialty plastics products.

CMC Research http://www.cmcre.com/jyouhoufile/petreport.htm#PET-h10

シクロヘキサン環を持つジオールでは唯一商業生産されているのが，1,4−シクロヘサンジメタノール（ＣＨＤＭ）で，飽和ポリエステル樹脂の有力な原料であると同時にコーティングレジンなどファインケミカル分野でも有望な用途が多い。

ＣＨＤＭを原料とするポリエステル樹脂の種類

メーカー ブランド タイプまたは略称 組成 備考
酸成分 グリコール成分
イーストマンケミカル イースター ＰＥＴＧ ＰＴＡ ＣＨＤＭ＜ＥＧ 押出，射出成形
ＰＣＴＧ ＰＴＡ ＣＨＤＭ＞ＥＧ 射出成形
スペクター ＰＥＴＧ ＰＴＡ ＣＨＤＭ＜ＥＧ 押出，プレート用
イースターアロイ 共重合アロイ ＰＴＡ ＣＨＤＭ＜ＥＧ PCとのアロイ
サーミックス ＰＣＴ ＰＴＡ ＣＨＤＭ 射出成形，高耐熱
ＰＣＴＡ ＰＴＡ＋変性酸 ＣＨＤＭ 射出成形
SKｹﾐｶﾙ スカイグリーン ＰＥＴＧ ＰＴＡ ＣＨＤＭ＜ＥＧ 押出，射出成形
ＧＥ バロックス ＰＣＴ ＰＴＡ ＣＨＤＭ 射出成形，高耐熱
共同印刷／ＮＫＫ ＳＣＲ 共重合 ＮＤＣ＞ＤＭＴ ＣＨＤＭ＜ＥＧ 共同印刷とＮＫＫの共同開発


ＣＨＤＭは１９５０年代にイーストマンが企業化し，主として自社のＰＥＴＧ用に自家消費してきた。この間，ヒュルス，東和化成工業などが小規模生産していた時期もあるが，実質的には約５０年間イーストマンの１社体制が続いていた。
１９９８年，韓国のＳＫケミカル，新日本理化，三菱商事の日韓３社で合弁会社「ＳＫ　ＮＪＣ」を設立，１９９９年，年産10,000トンのプラント建設を着手，２０００年７月に完成した。

ＣＨＤＭのメーカー別生産能力推移

メーカー 工場 1999年 2000年 2001年 備考
イーストマンケミカル 米国 　64,000 　64,000 　64,000 2006年倍増
スペイン 　　− 　　− 　27,000 閉鎖予定
計 　64,000 　64,000 　91,000 　
ＳＫ　ＮＪＣ 韓国 　　− 　　−　 　10,000 2001年1月商業生産開始
計 　 　64,000 　64,000 101,000 　

　

2007/4/17 Platts

Eastman to expand coal-based petrochemical production

Eastman Chemical Company plans to increase its coal-based petrochemical production to produce 50% of its total chemicals volume from coal by 2015, according to a report released by Bank of America.

Currently 20% of the company's total chemicals volume is produced from coal. The company plans minority investments in two gasification projects. The first project, a petroleum coke-based, methanol to propylene (MTP) plant in Longview, TX, would be developed in conjunction with TX energy. The plant, which is expected to come online in 2011, would replace propylene production lost via the future shutdown of several uneconomic ethylene crackers.

Additionally, MTP via coal gasification would enhance efficiency, placing Eastman propylene production on par with Middle East producers. The second project involves the development of an ethylene glycol plant in North America.
The exact location, time, and partners have yet to be announced and calls to Eastman were not returned by presstime.

2006/11/22 Eastman Chemical、石炭ベースの化学品志向へ

2007/5/8 Eastman

Eastman Expands Specialty Copolyester Capabilities

Eastman Chemical Company announced today it is extending its specialty copolyester production to its manufacturing site in Columbia, S.C. This action, coupled with the recent expansion of CHDM capacity at its Kingsport, Tenn., site, positions the company to create the broadest, most competitive manufacturing position possible for its specialty copolyester products. The expansion is consistent with the company's previously announced plans to increase its global copolyester manufacturing capacity by transitioning large-scale manufacturing assets to copolyester assets at its South Carolina site.

The Columbia site will become the second Eastman facility in North America producing the copolyester family of specialty plastics. The additional copolyester production is expected to come on-line in the first half of 2008. The CHDM capacity expansion, which came on-line earlier this year, doubles the company's CHDM capacity and provides the scale and integrated assets to enhance Eastman's global copolyester manufacturing capabilities. CHDM is a key intermediate used in the manufacture of several of Eastman's specialty copolyesters.

July 27, 2007 Eastman

Eastman Announces Key Roles in 2 Major Gulf Coast Gasification Projects
Projects Demonstrate Company's Continued Execution of Growth Strategy
Gasification Is Environmentally Friendly Choice to Improve Profitability

Eastman Chemical Company today announced key roles in two industrial gasification projects in the U.S. Gulf Coast, demonstrating significant progress in leveraging Eastman's technology and operational expertise to ensure future growth.

Eastman Chairman and CEO Brian Ferguson said the company will be the developer, operator, co-investor and customer of a new $1.6 billion project slated for Texas.  As a participant in the recently announced Faustina Hydrogen Products LLC project in St. James Parish, LA, Eastman will be the operator, a co-investor and customer.  Both projects would use petroleum coke primarily instead of natural gas to produce industrial chemicals used in a variety of consumer end products.

Texas Project
Based on incentives on the order of about $100 million that have been preliminarily approved by local officials in Beaumont, Texas, Eastman intends to locate its gasification project there, Ferguson said.  That plant, which is expected to be online in 2011, will produce low-cost intermediate chemicals, such as methanol, hydrogen and ammonia.

Louisiana Project
Eastman also plans to participate in a project recently announced by Faustina Hydrogen Products LLC as an investor, service provider and customer.  Faustina plans to build a plant which will use petroleum coke and high-sulfur coal as feedstocks to make anhydrous ammonia for agriculture, methanol, sulfur and industrial-grade carbon dioxide.

Eastman has provided development funding for the project, with the intent to take a 25 percent equity position.  Eastman will also provide operations and maintenance services and purchase methanol under a long-term contract, subject to customary reviews and approvals. The facility will be built in St. James Parish, LA., and is expected to be on line in 2010.

　

2007/9/17 Platts
Mexico's Alfa to buy Eastman's Latin America PET business, assetsMexico's Alfa announced Monday that it has entered into definitive agreements with the Eastman Chemical Company to acquire its Mexican and Argentinian polyethylene terephthalate assets and related businesses.

The sale, which is subject to customary approvals, includes Eastman's PET manufacturing facilities in Cosoleacaque, Veracruz, Mexico, and Zarate (close to Buenos Aires), Argentina. Their production capacity is 150,000 mt/year and 185,000 mt/year, respectiv

October 22, 2007 RTTNews

Wellman Sues Eastman Chemical For Patent Infringement

Wellman, Inc. announces the initiation of a patent infringement lawsuit against Eastman Chemical Company for infringement of United States Patent that cover titanium catalyzed polyethylene terephthalate, or "PET", resins and the preforms made from titanium catalyzed PET resins.
The complaint alleges that Eastman infringes Wellman's patent with its ParaStar resins that are made from its IntegRex process. The complaint also alleges that Eastman is inducing third parties, including its customers, to infringe Wellman's another patent when they make preforms using ParaStar resin.

Oct 22, 2007 (BUSINESS WIRE)

Wellman, Inc. Initiates PET Resin Patent Infringement Lawsuit against Eastman Chemical Company

Wellman, Inc. announces the initiation of a patent infringement lawsuit (1:07-cv-00585 (SLR)) against Eastman Chemical Company for infringement of United States Patent Nos. 7,129,317 and 7,094,863 owned by Wellman that cover titanium catalyzed polyethylene terephthalate ("PET") resins and the preforms made from titanium catalyzed PET resins.
The complaint alleges that Eastman infringes Wellman's '317 patent with its ParaStar resins that are made from its IntegRex process and Eastman is inducing third parties, including its customers, to infringe Wellman's '863 patent when they make preforms using ParaStar resin.
Wellman is committed to active enforcement of its rights under these patents and remains committed to providing the high level of quality products and support services that our customers have come to expect. As such, Wellman welcomes any inquiries from customers who have any questions regarding these patents or the patented technology.
Wellman, Inc. manufactures and markets high-quality polyester products, including PermaClear(R) brand PET (polyethylene terephthalate) packaging resins and Fortrel(R) brand polyester fibers.

Wellman, Inc., an international corporation, sets the standard as a manufacturer of plastic packaging, fibers and engineering resins
With PermaClear(R) PET packaging resin, Fortrel(R) polyester staple fiber and Wellamid EcoLon(R) engineering resin, Wellman leads the industry in state-of-the-art manufacturing.

FIBERS
With over thirty years of consumer credibility, Fortrel fibers represent some of the most innovative new products in the industry: Fortrel MicroSpun, the supernatural microfiber that changed the way we think about polyester forever. Fortrel Spunnaire, the optically bright high-performance fiber. ComFortrel, the fine denier fiber that combines supersoft comfort with incredible stability. Fortrel BactiShield, our antimicrobially treated fiber.

PET RESINS
Today, Wellman is the largest recycled polyester fiber producer and the largest plastics recycler in North America. As planned expansion programs fall into place, the company has become the third largest PET resin producer in North America, while maintaining its commitment to quality products and efficient state-of-the-art manufacturing. For a company that's committed to the biggest revolution in consumer packaging, the future is very clear, indeed!
PermaClear for the container and packaging industries. Valued for its consistency and performance, PermaClear, a co-polymer resin produces clear bottles at the highest operating speeds of stretch blow mold machines. Customers reap the benefits of running this high value product and partnering with our customer-responsive organization.

ENGINEERING RESINS
The Engineering Resins Division offers nylon 6, nylon 6,6, nylon 66/6 and PET compounds. The division has over 30 years experience utilizing virgin nylon, and post-industrial nylon raw materials. An industry leader in recycling with the latest innovation being Wellamid EcoLon, a nylon 6,6 compound developed for Ford Motor Company utilizing 25% postconsumer nylon from carpet.

October 26, 2007 Eastman Chemical

Eastman and Green Rock Energy, L.L.C. Agree to Joint Investment in Beaumont, Texas Industrial Gasification Project
　　　Project to Develop Facility with Advantaged Cost Position for Intermediate Chemicals

Eastman Chemical Company today announced that it has entered into an agreement with Green Rock Energy, L.L.C. (Green Rock). Green Rock is a company formed by the D. E. Shaw group and Goldman, Sachs & Co. to invest in gasification projects that address demand for more environmentally friendly sources of energy production. Eastman and Green Rock will jointly develop an approximately $1.6 billion industrial gasification facility in Beaumont, Texas.  The facility, which is expected to be online in 2011, will use petroleum coke as the primary feedstock to produce hydrogen, methanol, and ammonia.  Eastman previously announced its intention to co-develop the Beaumont facility as part of efforts to leverage its technology and operational expertise for future growth.

As previously announced, additional participants in the Beaumont project include:

About Green Rock Energy, L.L.C.
Green Rock Energy, L.L.C. was formed by the D. E. Shaw group and Goldman, Sachs & Co. to develop, own, and operate carbon gasification projects that address demand for more cost-effective, environmentally friendly sources of energy production.  For more information about Green Rock, visit www.greenrockenergy.com.

http://kaznak.web.infoseek.co.jp/blog/2007-08-1.htm#eastman

　

2008/6/3　Eastman

Eastman buys out Green Rock in Beaumont gasification project

Eastman Chemical Co announced Tuesday the acquisition of Green Rock Energy LLC's 50% ownership interest in the Beaumont, Texas, industrial gasification project.

With this acquisition, Eastman would become the full owner of the Beaumont project and remains the sole developer. In addition, Eastman announced the divestiture to Green Rock of its 25% ownership interest in the St. James Parish, La., industrial gasification project and will no longer participate in the project.

Richard Lorraine, Eastman senior vice president and CFO, presenting at an investor conference in New York said, "We have confidence in the success of both the Texas and Louisiana industrial gasification projects, however differences in strategic criteria led us to agree with Green Rock to end our joint investment."

　

Dec. 21, 2007 Eastman 　　　　　　　事前記事

Eastman to Sell PET, PTA Assets in Europe

Eastman Chemical Company today announced it has entered into definitive agreements with Indorama to sell its PET facility and related businesses in the United Kingdom, and its PET and PTA facilities and related businesses in the Netherlands.

The sale, which is subject to customary conditions and competition authority approval, includes Eastman's PET manufacturing facility in Workington, United Kingdom, and its PET and PTA manufacturing facilities in Rotterdam, the Netherlands. Eastman's acetate tow production at the Workington site is not included in the sale.

March 31, 2008　Eastman Chemical

Eastman Sells PET, PTA Assets in Europe

Eastman Chemical Company (NYSE:EMN) today announced it has completed the sale of its European PET and PTA assets to Indorama. Included in the sale are Eastman’s PET facility and related businesses in the United Kingdom and its PET and PTA facilities and related businesses in the Netherlands. The total cash proceeds of the transaction are Euro224 million or approximately US $354 million, subject to adjustments in working capital. The transaction will result in a gain on sale in the Company's consolidated financial statements for first quarter.
"This transaction completes Eastman’s divestitures of its non-strategic PET and PTA assets located outside the U.S.,” said Gregory O. Nelson, Eastman executive vice president and polymers business group head.
Eastman announced in December 2007 that it had entered into an agreement for the sale, subject to customary approvals.