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MarketScreener Homepage  >  Equities  >  Nyse  >  Eastman Chemical Company    EMN

EASTMAN CHEMICAL COMPANY

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Eastman Chemical : 2020, Oct 29 - Eastman signs strategic partnership with SEEN AG

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10/29/2020 | 08:10am EDT

KINGSPORT, Tenn., October 29, 2020 - To address the global challenge of birds colliding with glass in buildings, Eastman, manufacturer of Saflex® PVB interlayers for architectural applications, is pleased to announce a collaboration with SEEN AG.

'Eastman continually searches for leading entrepreneurs in the glass industry,' says Priya Kalsi, segment market manager with Eastman. 'We saw a great opportunity to collaborate with Rouven Seidler, founder of SEEN AG and the inventor of this unique solution. Bird safety is becoming increasingly important throughout the world. This collaboration will enable glass professionals to support the construction industry with a highly effective, aesthetic, bird-friendly glazing solution.'

'Billions of birds are killed when they collide with glass windows, link bridges, and curtain walls,' says Seidler. 'This sad reality inspired me to research and develop a unique solution. Eastman was the ideal partner to bring this solution to market. With performance proven at the Biological Station Hohenau-Ringelsdorf in Austria, the SEEN-Eastman partnership will result in one of the first 'in-glass' bird-friendly interlayers.'

'Partnering with SEEN AG for bird-safe glass is an unparalleled opportunity to provide our customers with an effective solution for a distressing concern,' says Eastman's Matthias Haller, marketing technical service representative.

There are no specific regulations for bird safety glazing yet, but bird-friendly solutions will become an integral part of future building design criteria. Countries such as the U.S. and Germany have started to require builders to integrate bird protection measures. New projects are already starting to address the issue, and Eastman targets a launch by mid-2021.

About Eastman
Founded in 1920, 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 2019 revenues of approximately $9.3 billion and is headquartered in Kingsport, Tennessee, USA. For more information, visit www.eastman.com.

Media Contacts:

Janet Ryan, +1 314-822-8860| +1 314-614-7408| janet@ryan-pr.com

Disclaimer

Eastman Chemical Company published this content on 29 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 October 2020 12:09:02 UTC


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Financials (USD)
Sales 2020 8 315 M - -
Net income 2020 660 M - -
Net Debt 2020 5 010 M - -
P/E ratio 2020 16,3x
Yield 2020 3,26%
Capitalization 10 860 M 10 860 M -
EV / Sales 2020 1,91x
EV / Sales 2021 1,75x
Nbr of Employees 14 500
Free-Float 61,1%
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 89,65 $
Last Close Price 80,27 $
Spread / Highest target 37,0%
Spread / Average Target 11,7%
Spread / Lowest Target -9,06%
EPS Revisions
Managers
NameTitle
Mark J. Costa Chairman & Chief Executive Officer
William T. McLain Chief Financial Officer
Mark K. Cox Chief Manufacturing & Engineering Officer, SVP
Stephen G. Crawford Chief Technology Officer & Senior Vice President
David Wayne Raisbeck Independent Director
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