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MarketScreener Homepage  >  Equities  >  Nyse  >  Eastman Chemical Company    EMN

EASTMAN CHEMICAL COMPANY

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Eastman Chemical : and Double Coin Tires experts praise Crystex(TM) Cure Pro insoluble sulfur for its thermal stability

09/15/2020 | 12:17pm EST

The companies gave a joint speech on boosting the insoluble sulfur industry at the CRIA Tire Branch Membership Conference.

Shanghai, CHINA - Eastman and Double Coin Tires (DC) presented the benefits of Eastman's next-generation insoluble sulfur - Eastman Crystex(TM) Cure Pro - during a joint speech at the China Rubber Industry Association (CRIA) Tire Branch Membership Conference on Sep. 15. Around 200 professionals from tire-related enterprises gathered at the conference to discuss the latest industry technologies and market status.

Eastman Crystex(TM) Cure Pro insoluble sulfur, the newest addition to the Crystex product line, has multiple unique features that enable substantial tire quality and operational cost savings. With faster dispersion, enhanced thermal stability and superior flow, Cure Pro has attributes that set it apart from all other rubber vulcanization agents.

"We were most impressed by the enhanced thermal stability and improved dispersion of Cure Pro compared with HD OT 20, as proved via high thermal stability (HTS) testing results," said Jiang Qi, vice director of DC's research center, who spoke about the application research report on Cure Pro. "After years of research, we have successfully developed our own HTS measurement technique which is efficient with less manual dependence compared with the conventional measurement technique."

As strategic partners, Eastman and DC are committed to continuously investing in innovative solutions. When Eastman launched Cure Pro, DC quickly recognized the step improvements Cure Pro enables and adopted the groundbreaking insoluble sulfur.

"DC was the first tire company to visit the newly built Eastman tire additives Shanghai lab," said Dr. Steven Gao, Eastman's Asia-Pacific application development and technical service group leader for tire additives, who spoke with Jiang Qi. "The new lab was opened in 2019, equipped with analytical, rubber compounding, and rubber testing equipment and providing the same state-of-the-art service as Eastman's world-renowned tire technology center in Akron, Ohio."

"These facilities, along with manufacturing centers in every region, help us be close to the customer while providing global security of supply," said San Sutanto, Eastman's Asia-Pacific sales director for tire additives. "We are also very proud that Eastman was recognized as Supplier of the Year at the 2020 Tire Technology Expo Awards for Innovation and Excellence. Eastman will continue to relentlessly focus on innovation for and cooperation with customers."

DC has the longest tire-making history in China and is well-known for its Truck and Bus Radial (TBR) tire.

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 contact:

Emily Wang

Eastman Chemical Company

Senior Marketing Communications Representative

86-21-6120-6312, 86-137-6143-3175 (mobile)

Emily.Wang@eastman.com

.

(C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials (USD)
Sales 2020 8 382 M - -
Net income 2020 642 M - -
Net Debt 2020 4 993 M - -
P/E ratio 2020 20,1x
Yield 2020 2,67%
Capitalization 13 299 M 13 299 M -
EV / Sales 2020 2,18x
EV / Sales 2021 1,99x
Nbr of Employees 14 500
Free-Float 61,1%
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Number of Analysts 17
Average target price 95,71 $
Last Close Price 98,15 $
Spread / Highest target 22,3%
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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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