Eastman Chemical Company - EMN STOCK NEWS

Eastman has unveiled Tritan™ Renew, a copolyester made using the company's innovative molecular recycling technology.

This technology breaks down plastic waste into fundamental building blocks, allowing plastics to be recycled repeatedly without degrading their quality, thus supporting a circular economy instead of a traditional linear one.

Notable brands like CamelBak® and Nalgene® are already using Tritan™ Renew in their products. By replacing fossil-based resources with recycled content, Eastman aims to divert plastic waste from landfills and oceans.

This initiative is part of Eastman’s broader mission to tackle the plastic waste crisis through revolutionary recycling methods.

Eastman has introduced Naia™ Renew cellulosic fiber, a circular fiber designed for the fashion industry. This innovative material is composed of 60% sustainably sourced wood pulp and 40% certified recycled content, offering a sustainable solution without compromising on style or creativity. Naia™ Renew addresses the textile industry's waste challenge by diverting waste from landfills and transforming it into new fiber material.

This eco-conscious, skin-friendly fabric allows fashion brands to create collections that resonate with environmentally conscious consumers while reducing their environmental footprint. Eastman aims to collaborate with fashion industry partners to promote sustainable practices and meet the growing demand for circular solutions in clothing production.

Eastman, a specialty materials company, is pioneering a circular economy solution for automotive plastic waste. Up to 20% of end-of-life vehicle materials, known as automotive shredder residue (ASR), typically end up in landfills or are incinerated. Eastman is collaborating across the value chain to develop a closed-loop project that recycles this waste into sustainable feedstock for new materials.

Using molecular recycling technology, Eastman aims to replace fossil-based feedstock with recycled complex plastics, creating high-performance polymers for new automotive applications. This innovative approach could significantly reduce the environmental impact of the automotive industry while maintaining material quality.

Eastman Chemical Company (NYSE:EMN) has announced a quarterly cash dividend of $0.81 per share on its common stock. The dividend is payable on Oct. 7, 2024, to stockholders of record as of Sept. 16, 2024. Eastman, founded in 1920, is a global specialty materials company with a focus on innovation and sustainability. The company employs approximately 14,000 people worldwide, serves customers in over 100 countries, and reported revenue of about $9.2 billion in 2023. Eastman's growth model leverages technology platforms, customer engagement, and application development to maintain leading positions in attractive markets such as transportation, building and construction, and consumables.

Eastman, a century-old materials company, is taking significant steps to address the plastic waste crisis and combat climate change. The company has committed to recycling over 50 million pounds of plastic waste by 2030, aiming to create an endless loop of reusable products. This initiative is expected to reduce carbon footprint by 20%-30% compared to using raw fossil feedstock.

Eastman's sustainability efforts, dubbed 'A Better Circle', focus on giving new life to plastic waste and partnering with other companies to create more sustainable solutions. The company emphasizes that sustainability is no longer optional but a necessity in today's world. Eastman is leveraging its decades of expertise to meet customer demands while prioritizing environmental responsibility.

Eastman (EMN) has unveiled a groundbreaking solution to the global plastic waste crisis. The company's molecular recycling technology can break down plastic waste into its basic components, enabling the creation of new, high-quality plastic products. This innovative process can be repeated indefinitely without downcycling, using less energy and resources compared to traditional methods using raw fossil feedstock.

Eastman's technology addresses the long-standing challenge of recycling all types of plastic, offering a scalable solution to reduce plastic waste in oceans, landfills, and the environment. The company is calling for collaboration to tackle this pressing issue and invites stakeholders to join their efforts in creating a more sustainable future for plastic use and recycling.

Eastman Chemical Company (NYSE: EMN) has announced the pricing of a $500 million public offering of 5.000% notes due 2029. The offering is expected to close on August 1, 2024. Eastman plans to use part of the proceeds to fund a cash tender offer for up to $250 million of its outstanding 3.800% Notes due 2025, with the remainder allocated for general corporate purposes.

The notes are being offered under an automatic shelf registration statement, with several major financial institutions serving as joint book-running managers. This offering is subject to SEC regulations and is only available through a prospectus supplement and accompanying prospectus.

Eastman, founded in 1920, is a global specialty materials company with a focus on innovation and sustainability. The company reported revenue of approximately $9.2 billion in 2023 and employs around 14,000 people worldwide.

Eastman Chemical Company (NYSE:EMN) has launched a cash tender offer to purchase up to $250 million of its outstanding 3.800% Notes due 2025. The offer expires on August 26, 2024, with an early tender deadline of August 9, 2024. Holders tendering by the early deadline are eligible for a $30 per $1,000 principal amount premium. The total consideration will be determined based on a fixed spread plus the yield of a reference U.S. Treasury Security. The offer is subject to various conditions, including the completion of a new debt offering. Barclays Capital, J.P. Morgan Securities, and Morgan Stanley are acting as dealer managers for the tender offer.

Eastman and the University of Tennessee have broken records with their "Good Sports Always Give Back" recycling program. In 2023, they recycled an impressive 44,950 pounds of game day waste at Neyland Stadium, surpassing their previous world record of 38,452 pounds set in 2022. The initiative included recycling plastic, aluminum, paper, cardboard, wooden pallets, composting, and food donations.

The program expanded to include a competition with the University of Michigan, resulting in a combined total of 85,211 pounds of waste diverted from landfills. Over 200,000 people participated in this environmental effort, demonstrating the power of unity and sustainability. Eastman's molecular recycling technologies play a important role in renewing plastic waste collected from UT's campus and stadium.