The $5.4-billion Eastman Chemical Company is now looking at new
business areas like services, digital licensing and ventures in
the Asia Pacific region. The company had, some time back, licenced
out some of its products to two Indian companies: Shasun Chemicals
and Drugs and Reliance Industries.
"The new business
development initiative is aimed at supporting Eastmans
traditional businesses as well as maximising its expertise in
managing project development, negotiations, digital applications
and service consultancy," says Eastman Chemical (South Asia
operations) managing director Dr Harish Davey.
Davey says Eastman Chemical is also interested in looking at India
for contract manufacturing and research and development
activities. Headquartered in Kingsport, Tennessee, US, Eastman
Chemical manufactures and markets plastics, chemicals and fibres
worldwide, with the Asia-Pacific region contributing $555 million.
"Eastman has an
immense wealth of technologies and process technologies developed
over a span of 80 years. Eastman Chemical is one of the leading
chemical companies in the areas of e-commerce and other
chemical-related information technology. We have several service
technologies like coal gasification and others that can be
leveraged," says Davey. The company is also trying to find
out newer or extended applications for its traditional products.
Two years back, Eastman
Chemical licensed Reliance Industries and the Chennai-based Shasun
Chemicals to manufacture a co-polyester product and
hydroxypropylmethyl cellulose phthalate (HPMCP), a non-active drug
While Shasun Chemicals has started production and exports of HPMCP,
Reliance Industries has started the market development activity
for the co-polyester.
"We are looking at
the entire subcontinent. There are good opportunities in
Bangladesh," says Davey. "The new business digital
ventures extend itself outside the chemical group in terms of
scope. The company has an online database for health, safety and
environment worldwide, which is a one-stop shop for importers and
exporters to gather information."