Welcome to our dedicated page for Eastman Chemical Company news (Ticker: EMN), a resource for investors and traders seeking the latest updates and insights on Eastman Chemical Company stock.
Eastman Chemical Company, established in 1920 to supply chemicals for Eastman Kodak, has evolved into a global leader in specialty chemicals. Headquartered in Kingsport, Tennessee, Eastman operates manufacturing sites worldwide and generates most of its revenue outside the United States, particularly in Asian markets.
Eastman specializes in high-margin specialty products, having strategically divested from noncore businesses over the past few years. The company's offerings span a wide array of industries, including transportation, building and construction, consumables, and textiles.
One of Eastman's notable achievements is the development of Naia™ Renew cellulosic fiber, which recently received the Global Recycled Standard (GRS) certification. This innovation showcases Eastman's commitment to sustainability, addressing the challenge of textile waste through molecular recycling technology. Naia™ Renew is produced from 60% sustainably sourced wood pulp and 40% GRS-certified waste materials, setting a new standard for sustainable fashion.
Collaboration plays a crucial role in Eastman's success. The company partners with global leaders and associations to advance sustainable innovations. For instance, Eastman collaborated with Reformation to launch a bridal collection featuring Naia™ Renew ES, a sustainable yarn made from certified recycled content.
Eastman's expertise extends to recycling technologies. The Kingsport facility, one of the world's largest molecular recycling facilities, can recycle 110,000 metric tons annually. This technology contributes significantly to a circular economy by enabling the infinite recyclability of plastic products, thus reducing carbon emissions and conserving resources.
In addition to textile and plastic recycling, Eastman has developed Aventa™ Renew compostable materials, used in collaboration with Sealed Air to create sustainable packaging solutions. These materials are home and industrial compostable, aligning with the circular economy goals of both companies.
Eastman also demonstrates its commitment to sustainability through products like Clearway® de-icer, used by Finland's Finavia to keep runways safe while minimizing environmental impact. The de-icer's biodegradability and low aquatic toxicity ensure it meets stringent ecological standards.
With approximately 14,000 employees worldwide, Eastman continues to innovate and deliver solutions that enhance the quality of life in a material way. The company's 2023 revenue was approximately $9.2 billion, reflecting its strong market presence and dedication to sustainable growth.
For more details, visit Eastman's website.
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.
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.
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