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MarketScreener Homepage  >  Equities  >  Nyse  >  Eastman Chemical Company    EMN

EASTMAN CHEMICAL COMPANY

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Eastman Chemical : Guardian Glass and Eastman Partner on the Ultimate Color Neutral Laminated Glass

10/15/2020 | 10:37am EST

KINGSPORT, Tenn. - - Continuing demand for superior low-iron glass products in both the premium commercial and residential markets is being met with an innovative collaboration between Eastman and Guardian Glass. Eastman and Guardian are jointly announcing Eastman's new Saflex® Crystal Clear PVB interlayer, which is designed to produce one of the most color neutral, brilliant laminated low-iron glass products available today: Guardian UltraClear® LamiGlass(TM) Neutral.

"Until now, laminating low-iron glass was challenging because traditional interlayers tend to reduce the neutral, transparent properties of low-iron glass," says Priya Kalsi, segment market manager with Eastman. "Our new Saflex Crystal Clear interlayer dramatically enhances the aesthetic appearance of Guardian UltraClear® low-iron glass when laminated, offering exceptional crisp neutrality and beauty, providing aesthetics that are very similar to monolithic Guardian UltraClear glass. All the traditional benefits of laminated glass remain unchanged, including safety, security and acoustic control. Saflex Crystal Clear PVB interlayer remains virtually undetectable at any visible angle in any light."

"This collaboration with Eastman answered a key concern for both companies' customers in search for an endless need for neutrality and transparency," says Eric Lassalle, product manager Laminated Glass at Guardian Glass. "Our joint cooperation enabled us to deliver a greatly improved aesthetic appearance when Guardian UltraClear glass is laminated with Saflex Crystal Clear PVB interlayer. Crystal Clear PVB can also be used with various combinations of coatings and surface treatments on Guardian UltraClear glass, making it ideal for a targeted range of high-performance solutions."

Applications

Guardian UltraClear LamiGlass Neutral can be used in a wide range of applications where brilliant neutrality, high transparency and safety are required. These include:

Interior: Interior Doors / Partitions / Balustrades / Stairs and Railings / Furniture / Retail Shelving / Display Cases / Museum Glazing

Exterior: Cladding / Curtain Walls / Facades / Windows / Skylights / Exterior Doors / Storefront and Shop Windows

Product Availability and Innovation Event

Both Saflex Crystal Clear PVB interlayer and Guardian UltraClear LamiGlass Neutral expanded portfolio are commercially available as of October 15, 2020, as a first step, in Europe with a possible expansion into the other regions during 2021. The two companies will jointly present this innovation during a live stream event on November 10, where there will be opportunities to raise questions. For more information, please visit saflex.com/crystalclear or guardianglass.com/ultraclear.

About Eastman Chemical Company:

Saflex® and all other trademarks listed below are trademarks of Eastman and/or its affiliates.

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.

About Guardian Glass

Guardian Glass, a major business unit of Guardian Industries, is one of the world's largest manufacturers of float, coated and fabricated glass products. At its 26 float lines around the globe, Guardian Glass produces high performance glass for use in exterior (both commercial and residential) and interior architectural applications, as well as transportation and technical products. Guardian Glass can be found in homes, offices, cars and some of the world's most iconic architectural landmarks. The Guardian Glass Science & Technology Center continuously works to create new glass products and solutions using the most advanced technology to help customers see what's possible(TM). Visit guardianglass.com.

About Guardian Industries:

Guardian Industries, a global company headquartered in Auburn Hills, Michigan, operates facilities throughout North and South America, Europe, Africa, the Middle East and Asia. Guardian companies employ 15,000 people and manufacture high-performance float glass; coated and fabricated glass products for architectural, residential, interior, transportation and technical glass applications; and high-quality chrome-plated and painted plastic components for the automotive and commercial truck industries. Guardian's vision is to be a preferred partner to our customers, suppliers, employees and communities based on a foundation of mutual benefit. This drives our relentless focus on improving people's lives by providing products and services they value more highly than their alternatives and doing so responsibly while consuming fewer resources. Guardian is a wholly owned subsidiary of Koch Industries, Inc. Visit guardian.com.

Media Contacts:

For Guardian: For Eastman:

Sophie Weckx Janet Ryan

+352 28 111 210 +1 3148228860

sweckx@guardian.com janet@ryan-pr.com

.

(C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials (USD)
Sales 2020 8 380 M - -
Net income 2020 642 M - -
Net Debt 2020 4 994 M - -
P/E ratio 2020 20,5x
Yield 2020 2,63%
Capitalization 13 536 M 13 536 M -
EV / Sales 2020 2,21x
EV / Sales 2021 2,02x
Nbr of Employees 14 500
Free-Float 61,1%
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 93,29 $
Last Close Price 99,90 $
Spread / Highest target 10,1%
Spread / Average Target -6,61%
Spread / Lowest Target -14,9%
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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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