Eastman Buys Sasol’s Marlotherm Assets
Eastman Chemical has bought Sasol’s Marlotherm heat transfer fluids manufacturing assets in Germany along with related formulations, intellectual property and customer contracts. Financial terms were not disclosed.
The US specialty materials company said the deal expands its product offering to customers worldwide. “With this acquisition, Eastman adds a complementary and profitable heat transfer fluid product line that aligns well with our existing offerings,” said Mahendra Dorairaj, Eastman’s vice president and general manager of specialty fluids & energy and adhesives.
“Marlotherm is a proven product and brand in heat transfer fluids with significant application expertise. This acquisition expedites our strategy and is consistent with our objective of delivering superior value through disciplined capital allocation including bolt-on acquisitions.”
The Marlotherm line will become part of Eastman’s specialty fluids business, which sits in its additives & functional products division.
In separate news, Eastman has introduced another recycling technology, which it said can handle some of the most complex plastic waste, including non-polyester plastics and mixed plastics that cannot be recycled with conventional processes.
By modifying the front end of its cellulosics production, Eastman said its carbon renewal technology can convert plastic waste back to simple and versatile molecular components. The process partially oxidizes the plastic and, at a very high efficiency, transforms it into the basic building blocks of certain Eastman products, including advanced materials and fibers used in the ophthalmic, durables, packaging, textiles and nonwovens end-use markets.
The company said it has completed pilot tests at its headquarters site at Kingsport, Tennessee.and plans to start commercial production this year, adding that it is exploring commercial collaborations to source the mixed plastic waste.
Last month, Eastman announced plans to launch its advanced circular recycling technology, which breaks down polyester waste that cannot be recycled using existing mechanical methods, reintroducing the material as new polyester-based polymer.