Engineering News

MeadWestvaco Specialty Chemicals to Expand Performance Chemicals Business
Friday February 15, 8:28 am ET

Company to Acquire Pine Chemicals Product Lines from Eastman Chemical Company

CHARLESTON, S.C.--(BUSINESS WIRE)--MeadWestvaco Corporation Specialty Chemicals Division today announced the signing of a definitive agreement to acquire Eastman Chemical Companys pine chemicals product lines. The acquisition of Eastmans tall oil rosins and tall oil fatty acids product lines, which are used in the production of paper chemicals, ink resins, paints, coatings, building materials and other pine chemicals applications, will expand MeadWestvacos Specialty Chemicals Performance Chemicals business.

This transaction, expected to close by the end of February 2008, will result in MeadWestvaco acquiring all intellectual property and technology associated with Pamite® tall oil rosins and Pamak® tall oil fatty acids now manufactured at Eastmans Franklin, Virginia, plant. MeadWestvaco will transition production to its Specialty Chemicals plants in DeRidder, Louisiana, and Charleston, South Carolina. Eastman will continue to own, operate and sell the Pamolyn® product line manufactured in Franklin, Virginia.

This acquisition underscores our commitment to achieving sustainable, profitable growth in Specialty Chemicals, said Ed Rose, vice president, MeadWestvaco Specialty Chemicals Performance Chemicals. The integration of the Pamite and Pamak technologies into our world-class refineries will allow us to continue to enhance our manufacturing efficiency and provide unparalleled value and innovation to our customers."

"This signing marks another important step in our plan to maximize stockholder value and will result in a better alignment of Eastman's resources with our strategy," said Jim Rogers, president of Eastman Chemical Company and head of the chemicals and fibers business group. The pine chemicals product lines were previously reported in Eastmans coatings, adhesives, specialty polymers and inks (CASPI) segment.

About MeadWestvaco

MeadWestvaco Corporation provides packaging solutions to many of the worlds most-admired brands in the food and beverage, media and entertainment, personal care, home and garden, cosmetics, and healthcare industries. The company has market-leading positions in its Consumer & Office Products and Specialty Chemicals businesses, and operates in more than 30 countries. MeadWestvaco manages all of its forestlands in accordance with internationally recognized forest certification standards, and has been named to the Dow Jones Sustainability Index for the third consecutive year.

About Eastman Chemical Company

Eastman manufactures and markets chemicals, fibers and plastics worldwide. It provides key differentiated coatings, adhesives and specialty plastics products; is a major supplier of cellulose acetate fibers; and produces PET polymers for packaging. As a Responsible Care® company, Eastman is committed to achieving the highest standards of health, safety, environmental and security performance. Founded in 1920 and headquartered in Kingsport, Tenn., Eastman is a FORTUNE 500 company with 2007 sales of $6.8 billion and approximately 11,000 employees.

Source: Mead Westvaco Corporation

Engineering News Archive

 
// CAREER RESOURCES

Applicant Procedures
Job Seekers
Resume Help
Professional Organizations
Engineering Career Information
Engineering Colleges

// WHAT WE DO
Recruiters for
Professionals in the Chemical
& Pharmaceutical Industries
We recruit exclusively for Engineers and Operations/Maintenance Management Personnel in the following areas:
Specialty chemicals
Bulk chemicals
Commodity Chemicals
Petrochemicals
Fine chemicals
Agrochemicals
Industrial gases
Surfactants
Fertilizers
Solvents
Coatings
Polymers
Pharmaceuticals
Refinery
Career Center | FAQs | Privacy
SESI Corporate Headquarters (954)755-3121 ext 109
© Search Enterprises, Inc. All rights reserved.
Industry News Career Center FAQs Submit a Job About Search Enterprises Submit a Resume Candidates Job Opportunities Search Enterprises Home