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Eastman Develops New MEG Technology


October 22, 2013 - London

 
 

FOR IMMEDIATE RELEASE

New Ethylene Glycol Process Created with JM Davy

KINGSPORT, Tenn., October 22, 2013 - Eastman Chemical Company (NYSE:EMN), in conjunction with Johnson Matthey Davy Technologies Limited (JM Davy), has developed advanced proprietary technology for the production of ethylene glycol from synthesis gas-based feed stocks.

Ethylene glycol, commonly referred to as mono ethylene glycol (MEG), is a key industrial chemical and is also a building block in the production of polyesters for fiber and packaging applications. This new technology enables the production of MEG from a variety of raw materials, including coal, natural gas, or biomass and is based on new, proprietary catalysts and process design developed by Eastman and JM Davy. Unlike other recent syngas based processes, this new technology does not go through oxalate intermediates. Extensive pilot plant demonstration of the new process is nearing completion and dialogue is underway for the first demonstration.  

"This world-class technology is well positioned to enable global growth for ethylene glycol, a key industrial product," said Dr. Gregory W. Nelson, Eastman's senior vice president and chief technology officer. "The combined expertise of Eastman and JM Davy in synthesis gas chemistry enabled our best process and catalyst scientists to create a superior technology and bring it to market for licensing."

"This state of the art technology complements JM Davy's portfolio of licensed technologies including syngas and methanol technologies and provides a unique opportunity for customers to enter the MEG market", said Antoine Bordet, managing director of JM Davy.

Eastman is a global specialty chemical company that produces a broad range of products found in items people use every day. With a portfolio of specialty businesses, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. Its market-driven approaches take advantage of world-class technology platforms and leading positions in attractive end-markets such as transportation, building and construction and consumables. Eastman focuses on creating consistent, superior value for all stakeholders. As a globally diverse company, Eastman serves customers in approximately 100 countries and had 2012 pro forma combined revenues, giving effect to the Solutia acquisition, of approximately $9.1 billion. The company is headquartered in Kingsport, Tennessee, USA and employs approximately 14,000 people around the world.

For more information, visit www.eastman.com.

About JM Davy
Johnson Matthey Davy Technologies Limited (JM Davy) is a global business in petrochemicals technology development and technology licensing. The company has its headquarters in London and has a Technology Centre in Teesside, United Kingdom.  It licenses a range of proprietary process technologies such as Methanol, Syngas, Fischer Tropsch, SNG, Butanediol, Detergent Alcohols, Oxo Alcohols, PTA, Industrial Amines, Ethyl Acetate, Biodiesel and Propylene Glycol.

More information about JM Davy can be found at www.davyprotech.com.

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Contacts:
Media: Brad Belote
(423)229-8801/ jbelote@eastman.com  

Investors: Greg Riddle
(212)835-1620 / griddle@eastman.com





This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Eastman Chemical Company via Thomson Reuters ONE

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