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Delayed Quote. Delayed Nyse - 01/21 04:10:00 pm
120.09 USD   -1.70%
01/18INSIDER SELL : Eastman Chemical
01/18GLOBAL MARKETS LIVE : Toyota, Microsoft, Goldman Sachs, Alibaba, Boeing...
01/18Today on Wall Street: Changes
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Herbal Essences introduces new packaging with Eastman Renew materials to coincide with America Recycles Day

11/10/2021 | 01:09pm EST

KINGSPORT, Tenn. and CINCINNATI - Eastman (NYSE: EMN) and Procter & Gamble (NYSE: PG) are pleased to announce that Herbal Essences will be the first P&G brand to use Eastman Renew molecular-recycled plastic in its packaging. Beginning in November, Herbal Essences, one of P&G's most iconic brands, will introduce five shampoo and conditioner collections in primary packaging made from Eastman Renew resins with 50% certified recycled plastic.*

In August, P&G and Eastman announced a landmark agreement to collaborate on initiatives that will advance the recycling of more materials, encourage recycling behavior and prevent plastic from going to waste. The launch of Herbal Essences in packaging from Eastman Renew materials, timed to coincide with America Recycles Day on November 15, is the first concrete step the companies are taking to leverage Eastman's molecular recycling technologies and advance their shared commitment to the circular economy.

Five Herbal Essences bio:renew sulfate-free collections, including the Aloe Vera lineup, will be upgraded to Eastman Renew materials beginning this month. These will be followed by two new collections coming to market in January 2022. These new packages will also include standardized How2Recycle® labels to clarify recycling instructions and encourage recycling behavior, even in the bathroom.

"It's on all of us to make a difference and create a more sustainable future where plastics are truly recycled, reused and out of nature," explains Herbal Essences principal scientist Rachel Zipperian. "Making this package change to Eastman Renew materials reduces the brand's dependence on virgin plastic and helps us bring the world one step closer to making plastic a circular resource. By including the standard How2Recycle® label, Herbal Essences is encouraging people to recycle their empty bottles."

Eastman Renew materials are made via Eastman's molecular recycling technologies using waste plastic that, without this technology, would end up in landfills. These advanced recycling technologies complement traditional recycling, expanding the types and amounts of plastics that can be recycled. This gives materials an extended useful life and diverts plastic waste from landfills or the environment.

"We are excited to see our partnership with Procter & Gamble reach consumers' hands with the launch of these Herbal Essences packages," said Chris Layton, Eastman sustainability director for plastics and circular solutions. "We are delivering solutions to the plastic waste problem right now and look forward to the continued collaboration with P&G as a leading partner."

*The recycled content is achieved by allocating the recycled waste plastic to Eastman Renew materials using a mass balance process certified by ISCC.

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 2020 revenues of approximately $8.5 billion and is headquartered in Kingsport, Tennessee, USA. For more information, visit eastman.com.

About Herbal Essences

Herbal Essences is working to reduce dependence on virgin plastic, encourage recycling, and invest in recycled materials. Sulfate-free bio:renew collections will start to incorporate 50% certified recycled plastic* to reduce the use of virgin plastic from fossil resources. In addition, Herbal Essences will encourage consumers to recycle with How2Recycle® labels that provide instructions, and the brand will continue to offer a national recycling program across the U.S. through our ongoing partnership with TerraCycle®.

About Procter & Gamble

P&G serves consumers around the world with one of the strongest portfolios of trusted, quality, leadership brands, including Always®, Ambi Pur®, Ariel®, Bounty®, Charmin®, Crest®, Dawn®, Downy®, Fairy®, Febreze®, Gain®, Gillette®, Head & Shoulders®, Lenor®, Olay®, Oral-B®, Pampers®, Pantene®, SK-II®, Tide®, Vicks®, and Whisper®. The P&G community includes operations in approximately 70 countries worldwide. Please visit http://www.pg.com for the latest news and information about P&G and its brands. For other P&G news, visit us at pg.com/news.

Media contacts:


Jacob Teetzmann


+1 (423) 494.3673

Herbal Essences

Rachel Zipperian


+1 (513) 626.4024


Tracey L. Long


+1 (513) 983.9629


(C) 2021 M2 COMMUNICATIONS, source M2 PressWIRE

Stocks mentioned in the article
ChangeLast1st jan.
EASTMAN CHEMICAL COMPANY -1.70% 120.09 Delayed Quote.1.04%
PROCTER & GAMBLE COMPANY 0.38% 162.62 Delayed Quote.-0.59%
01/18INSIDER SELL : Eastman Chemical
01/18GLOBAL MARKETS LIVE : Toyota, Microsoft, Goldman Sachs, Alibaba, Boeing...
01/18Today on Wall Street: Changes
01/18Eastman Chemical to Invest Up to $1 Billion in French Molecular Recycling Facility
01/17Eastman to invest up to $1 billion to accelerate circular economy through building worl..
01/17Eastman to Invest Up to $1 Billion to Accelerate Circular Economy Through Building Worl..
01/16Eastman Chemical To Inject $1 Billion In French Plastics Recycling Plant Project
01/11Eastman Named One of America's Most Just Companies by JUST Capital, CNBC
01/11Morgan Stanley Adjusts Eastman Chemical's Price Target to $165 from $142, Keeps Overwei..
01/07SHAREHOLDER ALERT : Levi & Korsinsky, LLP Reminds Shareholders of an Investigation Concern..
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Financials (USD)
Sales 2021 10 156 M - -
Net income 2021 735 M - -
Net Debt 2021 4 537 M - -
P/E ratio 2021 22,3x
Yield 2021 2,34%
Capitalization 16 145 M 16 145 M -
EV / Sales 2021 2,04x
EV / Sales 2022 2,08x
Nbr of Employees 14 500
Free-Float 60,3%
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Technical analysis trends EASTMAN CHEMICAL COMPANY
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Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 120,09 $
Average target price 138,40 $
Spread / Average Target 15,2%
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Mark J. Costa Chairman & Chief Executive Officer
William T. McLain Chief Financial Officer & Senior Vice President
Mark K. Cox Senior VP-Worldwide Engineering & Construction
Stephen G. Crawford Co-Chief Technology Officer & Executive VP
Aldo Noseda Chief Information Officer & Vice President
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