Company Announces Acquisition of Business and Industrial Park in Institute, West Virginia
Houston – (August 13, 2019) – 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.”