HOUSTON, Aug. 13, 2019 /PRNewswire/ -- ALTIVIA Ketones & Additives, LLC, an affiliate of ALTIVIA Petrochemicals is pleased to announce that the Company has entered into a definitive agreement under which ALTIVIA will acquire Dow's Acetone Derivatives Business and associated chemical manufacturing assets at Institute, West Virginia, as well as the Institute Industrial Park.
The 460-acre Institute Industrial Park was originally operated by Union Carbide and became an industrial park in the mid-1980s. The facility houses the Acetone Derivatives Business as well as other Dow and DuPont businesses, which receive utility and logistics services to support chemical production activities.
The Acetone Derivatives Business manufactures Ketones and Carbinols, used primarily in the coatings, adhesive and pharmaceutical industries. It is the largest North American production facility of its kind.
"Acquiring this facility and associated technology provides downstream expansion for ALTIVIA's acetone production capacity and access to global markets, for acetone derivatives," said ALTIVIA's Chief Executive Officer J. Michael Jusbasche. "Additionally, the Institute Industrial Park's excess capacity of utilities and services provide options to install additional chemical production for a fraction of the cost of alternatives."
Headquartered in Houston, Texas, privately held ALTIVIA was founded in 1986 and today operates three separate businesses. ALTIVIA Petrochemicals, with facilities in Haverhill, Ohio is the third largest merchant producer of Phenol, Acetone and Alpha Methylstyrene in the Americas; ALTIVIA Specialty Chemicals, the largest producer of Phosgene derivative intermediates in the Americas, including chloroformates and acid chlorides, serving pharmaceutical, organic peroxide and agricultural markets from its operations in LaPorte, Texas; and ALTIVIA Chemicals a producer of iron-based salts serving municipal and industrial customers with a broad range of chemical solutions, including products formulated for specific water treatment applications.
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