Chemical venture in China
Eastman Chemical Ltd, a wholly owned subsidiary of Eastman Chemical Company, and Sinopec Qilu Petrochemical Company have signed an agreement to form a joint venture to produce Texanol ester alcohol and TXIB plasticiser in China. The world-scale oxo derivatives plant will be built at Sinopec Qilu’s existing site in Zibo, Shandong Province, 400km SE of Beijing. Construction of the USD 30 million facility is expected to begin in 2003 and should be completed by the end of 2004. The plant will be named Zibo Qilu Eastman Specialty Ltd. Texanol ester alcohol is the leading coalescing aid used in premium quality architectural paints around the world. TXIB plasticiser is a primary modifier for vinyl, urethanes and other polymers for the production of consumer goods such as flooring, wallpaper, artificial leather and disposable medical examination gloves.
