Eastman Chem Co Stock Price, News & Analysis

Eastman's press release highlights the career of Pevas Bailey, a seasoned textile industry professional, who is now promoting sustainable textiles with Eastman's Naia™ cellulosic fiber. Bailey's journey began in North Carolina, where his uncle mentored him in textile mechanics. After earning a degree in textile management, Bailey worked for Sara Lee before returning to help his uncle's business. He joined Eastman in 2019, focusing on sustainable manufacturing practices to mitigate climate change. Bailey is also active in promoting workplace diversity through Eastman's Connect ERG and mentoring programs like IGNITE.

Eastman and Finavia, which manages Finland's airports, have collaborated to ensure safe and sustainable winter travel through the use of Eastman Clearway® de-icer. The de-icer not only keeps runways and taxiways operational during Finland's long winter but also aligns with environmental goals due to its biodegradability and low aquatic toxicity. Finavia aims to reach net-zero emissions by 2025, and Clearway supports this with its reduced carbon footprint, achieved by switching from heavy fuel oil to natural gas in its production process. The de-icer has been in use for over 30 years and is certified with the Blue Angel Ecolabel. Eastman also provides comprehensive support, including supply logistics and environmental testing, to ensure Finavia's winter operations run smoothly.

Aldo Noseda, Eastman's Chief Information Officer, has won the 2024 Tennessee CIO Global ORBIE Award. The ORBIE Awards, initiated in 1998, honor exceptional technology leaders in the U.S. who excel in leadership, innovation, and community engagement.

Since joining Eastman in 2018, Noseda has driven a significant modernization strategy, enhancing the company’s digital landscape with advancements in AI and data analytics. His efforts also led to the creation of independent revenue-generating digital products. Noseda's leadership has contributed to Eastman's technological and business advancements, earning him this prestigious recognition.

He also contributes to boards at Ballad Health and Saint Louis University School of Business.

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.