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MarketScreener Homepage  >  Equities  >  Nyse  >  Eastman Chemical Company    EMN

EASTMAN CHEMICAL COMPANY

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Eastman Chemical : 2020, Nov 30 - Eastman to increase tertiary amines capacity in Ghent by end of 2021

11/30/2020 | 12:05pm EST

KINGSPORT, Tenn., Nov. 30, 2020 - To help its customers meet the need for hand sanitizers, wipes, sprays, liquid dish soap and other household cleaning products, Eastman will significantly increase its capacity to produce tertiary amines (DIMLA) at its Ghent, Belgium, facility by the end of 2021.

'As the world's leading producer of tertiary amines, we take our responsibility to our customers seriously and want to support their growth as they make the world a cleaner and safer place,' said Bob Ash, product director for the company's care chemicals business group. 'That's why we're making a major investment, which will help us better serve this important market.'

Eastman has already significantly increased capacity at its Pace, Florida, DIMLA unit, making it the largest tertiary amine unit in the world. Ash said further investments are being considered there as well.

'If our customers support our expansions, we will continue to invest in DIMLA,' Ash said. 'We appreciate their patience as we complete the work. In the meantime, our units are running at a high level.'

Besides DIMLA, Eastman's care chemicals business supplies a wide variety of key intermediates and additives used in personal and home care, water treatment, pharmaceuticals, food, metalworking fluids, and crop protection.

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. Learn more at www.eastman.com.

Eastman media contact:
Sybylla Wales,
Senior Marketing Communications Manager
+32 9 254 1404
sybyllawales@eastman.com

Disclaimer

Eastman Chemical Company published this content on 30 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 November 2020 17:04:04 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 8 403 M - -
Net income 2020 648 M - -
Net Debt 2020 5 018 M - -
P/E ratio 2020 21,4x
Yield 2020 2,49%
Capitalization 14 210 M 14 210 M -
EV / Sales 2020 2,29x
EV / Sales 2021 2,08x
Nbr of Employees 14 500
Free-Float 61,2%
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 105,88 $
Last Close Price 104,87 $
Spread / Highest target 19,2%
Spread / Average Target 0,97%
Spread / Lowest Target -18,9%
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NameTitle
Mark J. Costa Chairman & Chief Executive Officer
William T. McLain Chief Financial Officer & Senior Vice President
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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