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MarketScreener Homepage  >  Equities  >  Nyse  >  Eastman Chemical Company    EMN

EASTMAN CHEMICAL COMPANY

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Eastman Chemical : 2019, Oct 01 - Eastman launches new portfolio of cellulose esters for food contact applications

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10/01/2019 | 07:53am EST

KINGSPORT, Tenn., Oct. 1, 2019 - Eastman is proud to announce the launch of a new portfolio of 13 cellulose esters for use in food contact applications such as inks, adhesives, tapes and labels, and internal can and other coatings.

These products meet requirements for use in certain food contact applications under regulations of the U.S. Food and Drug Administration (21 CFR), European Commission (Regulation 10/2011) and the Swiss Ordinance on Materials & Articles in Contact with Food (SR 817.023.21). They are manufactured, stored, handled and transported by Eastman under conditions adhering to current Good Manufacturing Practices (cGMP) for food contact applications.

The portfolio of cellulose esters for food contact formulated products includes the following:

  • Eastman CA-398-3, Food Contact
  • Eastman CAB-381-0.1, Food Contact
  • Eastman CAB-381-0.5, Food Contact
  • Eastman CAB-381-2, Food Contact
  • Eastman CAB-381-20, Food Contact
  • Eastman CAB-531-1, Food Contact
  • Eastman CAB-551-0.01, Food Contact
  • Eastman CAB-551-0.2, Food Contact
  • Eastman CAB-553-0.4, Food Contact
  • Eastman CAP-482-20, Food Contact
  • Eastman CAP-482-0.5, Food Contact
  • Eastman CAP-504-0.2, Food Contact
  • Eastman Solus™ 2100 Performance Additive, Food Contact

'We're excited to announce the launch of these food contact cellulose esters, providing new options for formulators of inks, adhesives, tapes and labels, and coatings that require food contact compliance. This is just the latest example of Eastman introducing innovative products that help meet market demands,' said Landon Davis, cellulose ester product manager, Coatings and Inks, Additives and Functional Products.

As the world's leading supplier of specialty cellulose esters for over 85 years, Eastman has a long history of reliably supplying customers with consistently high-quality products manufactured using advanced processes and controls. The launch of these new food contact products brings Eastman's portfolio of cellulose esters for formulated products -CA, CAB, CAP, and C-A-P-to over 50, for a variety of diverse applications. Our technical experts or authorized Eastman distributor can provide guidance to help customers select the best cellulose ester or blend to achieve the specific performance desired for their unique application, and for specific regulatory compliance documentation.

Visit eastman.com/CE to learn more about Eastman's portfolio of cellulose esters for formulated products.

About Eastman
Eastman is a global specialty materials company that produces a broad range of products found in items people use every day. With the purpose of enhancing the quality of life in a material way, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. The company's innovation-driven growth model takes advantage of world-class technology platforms, deep customer engagement, and differentiated application development to grow its leading positions in attractive end-markets such as transportation, building and construction, and consumables. As a globally inclusive and diverse company, Eastman employs approximately 14,500 people around the world and serves customers in more than 100 countries. The company had 2018 revenues of approximately $10 billion and is headquartered in Kingsport, Tennessee, USA. For more information, visit www.eastman.com.

Media contact:
Maryellen Mantyla
Eastman Chemical Company
Marketing Communications
423-229-4269, 423-367-6183(mobile)
mmantyla@eastman.com

Disclaimer

Eastman Chemical Company published this content on 01 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 October 2019 11:52:06 UTC

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Financials (USD)
Sales 2019 9 284 M
EBIT 2019 1 383 M
Net income 2019 938 M
Debt 2019 5 707 M
Yield 2019 3,05%
P/E ratio 2019 11,8x
P/E ratio 2020 10,1x
EV / Sales2019 1,78x
EV / Sales2020 1,71x
Capitalization 10 855 M
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 84,88  $
Last Close Price 79,83  $
Spread / Highest target 17,8%
Spread / Average Target 6,33%
Spread / Lowest Target -17,3%
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Managers
NameTitle
Mark J. Costa Chairman & Chief Executive Officer
Curtis E. Espeland Chief Financial Officer & Executive Vice President
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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