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EASTMAN CHEMICAL COMPANY (EMN)
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Eastman Chemical Company : Completes Startup of Plasticizer Manufacturing Facility at Texas City Site

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04/30/2012 | 02:55pm CEST
 
 

KINGSPORT, Tenn., April 30, 2012 - Eastman Chemical Company (NYSE:EMN) today announced it has completed the retrofit and startup of its non-phthalate plasticizer manufacturing facility in Texas City, Texas. Eastman purchased the former Sterling Chemicals, Inc. plant in mid-2011.

The facility, which will primarily produce Eastman 168(TM) non-phthalate plasticizer, will increase the overall capacity of Eastman 168 by approximately 60 percent. Further capacity increases are possible with minimal investment at the Texas City site as demand for non-phthalate plasticizers continues to grow.

 "We are committed to continual growth in our business and are happy to announce the startup of the non-phthalate plasticizer facility in Texas City," said Heidi Barnes, Performance Chemicals and Intermediates segment Oxo and Plasticizers business director. "This additional capacity will allow us to serve the growing demand for non-phthalate plasticizers such as Eastman 168(TM) around the globe."

Non-phthalate plasticizers are broadly used in products such toys, childcare items, food contact materials and medical devices, and is also used to provide flexibility to PVC in a wide variety of applications. End markets for non-phthalate plasticizers include building and construction, health and wellness, and infant care.

Eastman's chemicals, fibers and plastics are used as key ingredients in products that people use every day. Approximately 10,000 Eastman employees around the world blend technical expertise and innovation to deliver practical solutions. The company is committed to finding sustainable business opportunities within the diverse markets and geographies it serves. A global company headquartered in Kingsport, Tennessee, USA, Eastman had 2011 sales of $7.2 billion. For more information, visit www.eastman.com:
http://www.eastman.com/.

# # #

Contacts:

Media: Kristin Sturgill
423-229-2526 / [email protected]:
mailto:[email protected]

Investors: Gregory Riddle
212-835-1620 / [email protected]:
mailto:[email protected]





This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Eastman Chemical Company via Thomson Reuters ONE

HUG#1607358
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Financials ($)
Sales 2018 10 182 M
EBIT 2018 1 745 M
Net income 2018 1 217 M
Debt 2018 5 967 M
Yield 2018 2,01%
P/E ratio 2018 12,98
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EV / Sales 2018 2,11x
EV / Sales 2019 1,99x
Capitalization 15 554 M
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Mark J. Costa Chairman & Chief Executive Officer
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Mark K. Cox Chief Manufacturing & Engineering Officer, SVP
Stephen G. Crawford Chief Technology Officer & Senior Vice President
Robert M. Hernandez Lead Independent Director
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