Altivia buys Dow acetone business
Altivia Ketones & Additives, an affiliate of Altivia Petrochemicals, has agreed to buy the acetone derivatives business of Dow. This includes the manufacturing site at Institute, West Virginia (pictured), plus related infrastructure, land and utilities. Dow remains a tenant at the site. Terms were not disclosed and the deal should close by the end of 2019, subject to customary closing conditions.
The business manufactures ketones and carbinols, which are mainly used in the coatings, adhesives and pharmaceutical industries. The Institute site is said to the the largest of its kind in North America. Altivia already makes acetone at its site in Haverhill, Ohio, along with phenol there and at two other US sites.
CEO Michael Jusbasche commented that the facility “provides downstream expansion for Altivia’s acetone production capacity and access to global markets for acetone derivatives”. While the site’s “excess capacity of utilities and services provide options to install additional chemical production for a fraction of the cost of alternatives”