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MarketScreener Homepage  >  Equities  >  Nyse  >  Eastman Chemical Company    EMN

EASTMAN CHEMICAL COMPANY

(EMN)
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Eastman Chemical : signs agreement with DKSH for distribution of its Personal Care products throughout Asia Pacific

09/28/2020 | 10:25am EST

KINGSPORT, Tenn. -- Eastman Chemical Company is pleased to announce that, in August 2020, Eastman Chemical Ltd entered into a distribution agreement with DKSH, a Swiss-headquartered company. DKSH will be tasked with growing Eastman's Personal Care business in existing markets and expanding into new ones, as a distributor of Eastman across the entire Asia-Pacific region. This collaboration marks another step along Eastman's transformation journey to create value to customers through faster innovation and commercialization.

"As a specialty materials company, we continue to expand our inhouse R&D and formulation skills and capabilities. Complementary to this, we will now also be drawing on the valuable formulation expertise of a company deeply rooted in communities across the Asia Pacific region that has its own labs. This will help local customers get access to our personal care and cosmetics innovations more swiftly and easily," says Christian Derbez, Sales Director AP region at Eastman.

Roland Kraut, Vice President, Global Personal Care Industry, Performance Materials, DKSH adds: "We have a dedicated team of more than 100 personal care specialists who understand the language of the brand owners in the Asia Pacific region. We are excited about this relationship and look forward to putting Eastman's products in the spotlight in this important market."

Eastman has a long history of providing specialty ingredients to the personal care and cosmetics industry. We have a wide variety of products available -from adhesion promoters to film formers to emollient esters-to help boost product performance.

For more information about Eastman's commitment to personal care visit eastman.com/PersonalCare. For more information about DKSH visit dksh.com.

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.

About DKSH

DKSH is the leading Market Expansion Services provider with a focus on Asia. The Group helps companies to grow across the Business Units Healthcare, Consumer Goods, Performance Materials and Technology. The service portfolio covers sourcing, market insights, marketing and sales, eCommerce, distribution and logistics as well as after-sales services. Publicly listed on the SIX Swiss Exchange, the Group operates in 36 markets with 33,350 specialists, generating net sales of CHF 11.6 billion in 2019. With its Swiss heritage, DKSH has been deeply rooted in Asia Pacific since 1865. The DKSH Business Unit Performance Materials distributes specialty chemicals and ingredients for food, pharmaceutical, personal care and various industrial applications. With 46 innovation centers and regulatory support worldwide, we create cutting-edge formulations that comply with local regulations. With around 1,100 specialists, the Business Unit generated net sales of CHF 1.0 billion in 2019.

Eastman media contact:

Sybylla Wales,

Senior Marketing Communications Manager

+32 9 254 1404

sybyllawales@eastman.com

DKSH media contact:

Daniel Hollister

Senior Manager, Group Marketing,

Performance Materials

+44 208 879 5500

daniel.hollister@dksh.com

.

(C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials (USD)
Sales 2020 8 381 M - -
Net income 2020 642 M - -
Net Debt 2020 4 993 M - -
P/E ratio 2020 20,1x
Yield 2020 2,67%
Capitalization 13 303 M 13 303 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 95,12 $
Last Close Price 98,18 $
Spread / Highest target 16,1%
Spread / Average Target -3,12%
Spread / Lowest Target -13,4%
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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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