Eastman Chem Co Stock Price, News & Analysis

Eastman has announced a significant advancement in recycling through its Kingsport facility, one of the world's largest molecular recycling facilities. Capable of recycling 110,000 metric tons of hard-to-recycle plastic waste annually, the facility contributes to a circular economy by allowing plastics to be recycled indefinitely. This technology reduces carbon emissions compared to traditional fossil-based processes, promoting sustainability and resource conservation. Eastman aims to lead the transformation towards a more sustainable future, positively impacting various industries and global consumers.

Eastman Chemical Company's (NYSE:EMN) Board of Directors has elected Donald Slager as a new director. Slager, former CEO of Republic Services, brings extensive experience from the environmental services sector. His expertise is expected to aid Eastman in pursuing its goal of creating a circular economy.

Slager retired as CEO in 2021 after a decade in the role, and has held various leadership positions since starting his career in 1980. He also serves on the board of Martin Marietta Materials.

Eastman is a global specialty materials company with $9.2 billion revenue in 2023. The company operates in more than 100 countries and employs around 14,000 people.

Willie McLain, EVP and CFO of Eastman Chemical (NYSE:EMN), will present at the Deutsche Bank Global Industrial, Materials & Building Products Conference on June 6, 2024, at 10:30 a.m. ET. The presentation will be webcast live on investors.eastman.com, with an audio replay available later.

Eastman spotlighted its Naia™ Renew ES staple fibers at the Intertextile Shanghai Apparel Fabrics exhibition in March. This new textile innovation contains 60% certified recycled content and is aimed at driving sustainability in the fashion industry. Over 400 fabric and garment types made with Naia™ Renew were showcased, emphasizing its versatility and impact. Eastman collaborated with the Beijing Institute of Fashion Technology to inspire students towards sustainable fashion. Naia™ Renew ES is produced using Eastman's molecular recycling technology, converting waste into high-quality materials, and has received Global Recycled Standard (GRS) certification. The company also engages with global industry leaders and associations on sustainable material research projects.

Pact Collective and Eastman have announced a significant breakthrough: the qualification of multicolored PET waste for Eastman's methanolysis technology. This innovative process addresses the challenge of recycling multicolored PET waste, which is typically difficult to recycle mechanically due to color variations. Eastman's technology upcycles this material into high-quality copolyesters and PET, suitable for the beauty industry, matching the quality of virgin materials.

The collaboration between Pact, a nonprofit managing beauty packaging take-back programs, and Eastman aims to ensure an environmentally responsible handling of beauty packaging waste. Eastman's methanolysis process breaks down hard-to-recycle PET waste into its basic building blocks, which are then used to create high-performance materials. This initiative seeks to reduce reliance on less sustainable options like waste-to-energy or landfilling, promoting a sustainable future for beauty packaging.

Eastman has announced a strategic collaboration with Debrand to advance textile-to-textile recycling solutions. This partnership will use Eastman's molecular recycling technology to recycle 5,000 pounds of apparel waste into Naia™ Renew fibers, which are composed of 60% sustainably sourced wood pulp and 40% recycled waste material. The initiative aligns with Eastman's commitment to sustainability and circularity in the fashion industry. Debrand, supported by Waste Management's investment, will aid in collecting and sorting the waste. This collaboration sets a new benchmark for sustainable practices and aims to mainstream circular solutions for apparel waste.

Eastman and Lubrizol have partnered to enhance the adhesion strength of thermoplastic elastomers (TPEs) overmolded onto Eastman's Tritan™ copolyester TX1501HF.

The collaboration underscores the significance of overmolding in manufacturing, aiming at improving product performance and aesthetics in consumer goods. Utilizing sustainable materials, Tritan™ Renew and Lubrizol's ESTANE® ECO TPU, the companies optimized key TPE processing variables such as mold temperature and barrel temperature, achieving a 124% improvement in adhesion strength.

Further enhancements were noted with Lubrizol's ESTANE® ECO TPU grades, which displayed the highest peel strength values (>310 N). These findings offer valuable guidance for engineers and manufacturers, paving the way for innovative product designs using recycled content.

Attendees at NPE2024 in Orlando, Fla., can witness these materials firsthand and gain deeper insights through a joint webinar on June 12.

Sharon Nolen, global natural resources manager for Eastman, has been appointed as the chair of the Industrial Technology Innovation Advisory Committee by U.S. Secretary of Energy Jennifer Granholm. Nolen's expertise in energy and water will be instrumental in accelerating technologies to reduce industrial emissions and advance decarbonization efforts in the American industry. The committee aims to deliver recommendations to Congress on leveraging technologies like green hydrogen, carbon capture, and nuclear energy to achieve carbon neutrality by 2050. Nolen's commitment to sustainability, rooted in her upbringing on a Tennessee farm, highlights Eastman's dedication to reducing its carbon footprint and developing eco-friendly products.

A recent survey by Stagwell's The Harris Poll reveals that New Yorkers favor molecular recycling as a solution to the waste crisis over a plastic ban. 78% of respondents see molecular recycling as a positive way to address plastic waste. The study shows that 60% of participants believe molecular recycling can ease recycling burdens and promote sustainability.