STOCK TITAN

Eastman to advance a circular future for healthcare packaging with key collaboration

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

Eastman (NYSE: EMN) has entered a partnership with Ethicon, part of Johnson & Johnson MedTech, to supply Eastman Renew materials for medical device sterile-barrier packaging. This collaboration aims to reduce plastic waste in healthcare and promote sustainability. Ethicon will utilize Eastar™ Renew 6763 copolyester, which maintains the performance standards of traditional materials while enabling diversion of waste from landfills. The initiative seeks to achieve 25% waste diversion of total packaging production, with an aspirational goal of 50% by the end of 2023.

Positive
  • First mover advantage in sustainable healthcare packaging with Ethicon partnership.
  • Potential to divert 25% of waste from landfills, aiming for 50% by 2023.
  • Enhanced sustainability profile through innovative molecular recycling technologies.
Negative
  • None.

Ethicon to source Eastman Renew materials in industry-leading move to help reduce plastic waste in healthcare

KINGSPORT, Tenn., Sept. 20, 2022 /PRNewswire/ -- Eastman (NYSE: EMN) has announced an agreement with Ethicon*, a Johnson & Johnson MedTech** Company, to source Eastman Renew materials for its medical device sterile-barrier packaging. This is an important step to help reduce waste in the healthcare system and contribute to a more circular future. With this agreement, Ethicon becomes the first healthcare company to use medical-grade Eastman Renew materials in its product packaging.

"The companies worked closely to chart a path toward creating a more circular future for packaging of medical devices, driving landfill diversion and reducing carbon emissions," said Scott Ballard, Eastman plastics division president. "With our molecular recycling technologies, we can improve the sustainability of products that have been the hallmark of safety and performance in healthcare for decades."

Powered by Eastman's innovative molecular recycling technologies, Ethicon will use Eastar Renew 6763 copolyester for its medical device sterile barrier packaging. Eastar Renew 6763 is indistinguishable from Eastar 6763 copolyester, with the same durability, safety and performance relied on by medical device companies for decades. The only difference is that by sourcing Eastar Renew, companies can certify that plastic waste is being diverted from landfills to produce new packaging. Through this agreement, the goal is to divert waste volume equal to 25% of the weight of total packaging produced — with the potential to increase up to 50% by the end of 2023.*** This commitment is backed by Ethicon's ISCC PLUS certification, awarded by the International Sustainability & Carbon Certification (ISCC), which traces sustainable sourcing of feedstock.

This is an important first step toward achieving circularity for healthcare packaging. Strategic collaborations like this will help drive change in the industry, leveraging molecular recycling to increase recycling rates and catalyze a circular economy for healthcare.

Eastman's molecular recycling technologies hold great promise for helping healthcare companies increase their sustainability profiles. Using mechanically recycled materials in healthcare applications is not possible due to stringent purity and transparency requirements. Eastman's molecular recycling technologies offer a path toward reducing plastic waste for the industry. By breaking down waste to its molecular building blocks, which are indistinguishable from virgin materials, they can be used to create high-performance polymers suitable for the medical industry. And because these technologies source plastic waste as feedstock, they leave fossil resources in the ground and result in lower greenhouse gas emissions.  

Visit eastman.com/circular for more information on Eastman's efforts in the circular economy and Eastman Renew materials.

*Ethicon represents the products and services of Ethicon, Inc., Ethicon Endo-Surgery, LLC and certain of their affiliates. All other trademarks are the property of their respective owners.
**Johnson & Johnson MedTech comprise the surgery, orthopedics, vision and interventional solutions businesses within Johnson & Johnson's MedTech segment.

***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 14,000 people around the world and serves customers in more than 100 countries. The company had 2021 revenues of approximately $10.5 billion and is headquartered in Kingsport, Tennessee, USA. For more information, visit www.eastman.com.

Media Contact:

Eastman
Jacob Teetzmann
Tombras
jteetzmann@tombras.com
+1 423.494.3673

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/eastman-to-advance-a-circular-future-for-healthcare-packaging-with-key-collaboration-301627641.html

SOURCE Eastman

FAQ

What is Eastman's agreement with Ethicon about?

Eastman has partnered with Ethicon to provide sustainable Eastman Renew materials for medical packaging, aiming to reduce plastic waste.

What materials will Ethicon use from Eastman?

Ethicon will use Eastar™ Renew 6763 copolyester for its medical device sterile-barrier packaging.

What is the goal of the Eastman and Ethicon collaboration?

The collaboration aims to divert 25% of waste volume from landfills, with potential to increase to 50% by the end of 2023.

How does Eastman's molecular recycling technology benefit healthcare?

It allows for the creation of high-performance polymers from plastic waste, thereby reducing reliance on fossil resources and greenhouse gas emissions.

Eastman Chemical Company

NYSE:EMN

EMN Rankings

EMN Latest News

EMN Stock Data

10.65B
115.04M
0.67%
89.49%
1.78%
Specialty Chemicals
Plastic Materials, Synth Resins & Nonvulcan Elastomers
Link
United States of America
KINGSPORT