Welcome to our dedicated page for Eastman Chem news (Ticker: EMN), a resource for investors and traders seeking the latest updates and insights on Eastman Chem stock.
Eastman Chemical Company reports developments as a global specialty materials company producing chemicals and materials used in everyday products. News commonly covers quarterly results, price and volume trends, raw-material and distribution costs, foreign currency effects, and performance in businesses such as Advanced Materials, Chemical Intermediates, acetate tow and methanolysis operations.
Company updates also include quarterly cash dividends on common stock, annual meeting voting results, board and governance matters, and executive participation in industrial conferences. Eastman frames its commercial activity around technology platforms, customer application development, and end markets including transportation, building and construction, and consumables.
Eastman (NYSE: EMN) has partnered with USAMP and PADNOS for a feasibility study on recycling automotive plastic waste. The initiative targets automotive shredder residue (ASR), which comprises 10%–20% of end-of-life vehicles and typically ends up in landfills. By using ASR as feedstock, Eastman aims to produce new materials through its molecular recycling technology. This project, expected to yield energy savings and reduce greenhouse gas emissions, aligns with USAMP's sustainability goals, addressing the 5–7 million tons of ASR generated annually in the U.S.
The Eastman Q2 2021 financial results teleconference has been rescheduled to start at 9:00 a.m. ET on August 3, 2021, instead of the previously announced 8:00 a.m. ET. The financial results will be released on August 2, 2021, at approximately 4:30 p.m. ET. Interested parties can access the teleconference via a live webcast or by dialing in. The webcast replay will also be available after the event. For more details, visit www.eastman.com.
Eastman Chemical Company (NYSE:EMN) will release its financial results on August 2, 2021, around 4:30 PM ET. A webcast and teleconference will be held the following day, August 3, 2021, at 8:00 AM ET. Investors can access the advance slides and prepared remarks on the company's investor relations webpage. A replay of the webcast will be available after the call.
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One Rock Capital Partners has signed an agreement to acquire Eastman Chemical Company's tire additives business, a leader in specialty chemicals for the tire industry. This strategic acquisition aims to enhance product offerings and boost growth as an independent entity. With over 500 employees and seven production locations, Eastman's tire additives business specializes in key products like insoluble sulfur. The transaction is expected to finalize in the second half of 2021, pending regulatory approvals.
Eastman Chemical Company (NYSE:EMN) has agreed to sell its rubber additives business, including Crystex™ and Santoflex™, for $800 million to One Rock Capital Partners. The deal comprises $725 million in cash and up to $75 million based on post-closing performance. Expected to be neutral or accretive to adjusted EPS in 2022, the transaction aims to enhance Eastman’s Additives & Functional Products segment. The sale is anticipated to close in the second half of 2021, subject to regulatory approvals. Financial advisors for the deal include Credit Suisse and JP Morgan.
Eastman Chemical Company (NYSE:EMN) has announced significant changes in its executive leadership, including the retirement of Mark K. Cox, who served for over 35 years. He will remain in his role until his retirement in 2022. Stephen G. Crawford is promoted to Executive Vice President, taking over manufacturing and engineering responsibilities. Additionally, Julie A. McAlindon and Dr. Christopher M. Killian have joined the Executive Team as Senior Vice Presidents, focusing on supply chain and technology respectively. These changes aim to strengthen Eastman's innovation-driven growth strategy.
Eastman Chemical Company (NYSE:EMN) will present at the Deutsche Bank Basic Materials Conference on June 9, 2021, at 9:00 a.m. ET. Senior VP and CFO Willie McLain will lead the discussion, which can be accessed via a live webcast on investors.eastman.com. The presentation will also be available later as an audio replay on the same website, providing investors with further insights into the company's strategies and performance in the basic materials sector.
LVMH Perfumes & Cosmetics has partnered with Eastman (NYSE: EMN) to utilize Eastman's molecular recycling technologies for sustainable packaging. The collaboration marks a significant step in LVMH's goal to eliminate fossil-fuel-based plastics, beginning with the Dior Addict Lip Maximizer packaging containing 30% certified recycled content. This initiative aligns with LVMH's LIFE 360 program, targeting zero virgin fossil resource plastic use in the future. Eastman's advanced recycling technologies help brands meet recycled content goals while ensuring the quality expected by luxury consumers.
Eastman (NYSE: EMN) is expanding its capacity to produce Naia filament yarn by 30% by mid-2021 and over 50% by the end of 2022 at its Barcelona site. This increase aims to meet the rising customer demand for sustainable fibers, particularly in womenswear fashion. According to Burt A. Capel, vice president and general manager of fibers, sustainability is becoming a key market driver. The company reported revenues of approximately $8.5 billion in 2020 and focuses on innovative, sustainable solutions in the materials market.