Eastman announces $1.6-billion investment plan for Kingsport site

17:53 PM | May 29, 2013 | Lindsay Frost

Eastman announced today that it will invest $1.6 billion at its Kingsport, TN site over the next 7 years. Investment will focus on safety and environmental projects, increased warehouse capacity, building renovations, expansion of its corporate headquarters campus, and further expansion opportunities to be detailed in the coming years, a company spokesperson says. Eastman says it will add 300 jobs at Kingsport. 

"This represents a landmark capital investment that will modernize and expand our largest manufacturing site and corporate campus here in Kingsport,” says Eastman chairman and CEO Jim Rogers. The multi-year project will culminate with Eastman’s 100th anniversary in 2020. “I can think of no better way to honor our long-term commitment to this site and surrounding community than through this very significant investment in our future,” Rogers adds. 

In January
, the company launched a debottlenecking of the butyric acid plant at the Kingsport site—adding 11 million lbs/year of capacity to the plant with construction expected to be complete in the fourth quarter of this year. In October 2011, it also increased the non-phthalate plasticizer capacity at the site by 6,000 m.t./year.

Eastman recently named Mark Costa, currently executive v.p./additives and functional products and advanced materials, as its next CEO,. effective 1 January 2014. Rogers will then become executive chairman.