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.
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.
deSter and Eastman are partnering to introduce reusable in-flight drinkware made with Tritan Renew to reduce the 6.1 million tons of plastic waste generated by the airline industry annually. Tritan Renew, a durable and sustainable material with 50% certified recycled content, aims to provide a premium experience while reducing waste in the airline industry.
Eastman and Sealed Air have partnered to develop certified compostable protein trays as an eco-friendly alternative to polystyrene trays. The tray, made from sustainable materials, is designed for industrial food packaging equipment, showcasing a commitment to circular economy principles. It has received certifications for both home and industrial compostability, marking a significant step towards reducing plastic waste in the food industry.
Eastman's Solus™ performance additives provided a safer alternative for a toy manufacturer facing compliance concerns in the EU market. By replacing nitrocellulose with Solus™, the manufacturer maintained market presence and improved coating performance. Eastman's expertise ensured regulatory compliance without compromising quality.
The Board of Directors of Eastman Chemical Company (NYSE:EMN) has declared a quarterly cash dividend of $0.81 per share on the company's common stock. The dividend is payable on July 9, 2024, to stockholders of record as of June 17, 2024. Eastman, founded in 1920, is a global specialty materials company focused on enhancing the quality of life through innovative products in various sectors. The company's 2023 revenue was approximately $9.2 billion, and it employs around 14,000 people worldwide.
Eastman Chemical Company (EMN) announced the results of the 2024 Annual Meeting Stockholder Vote, where directors were reelected, the appointment of the independent registered public accounting firm was ratified, and the compensation of executive officers was approved. The proxy statement containing detailed information is available online. Eastman is a global specialty materials company focusing on innovation, safety, and sustainability, with 2023 revenue of approximately $9.2 billion.
FAQ
What is the current stock price of Eastman Chemical Company (EMN)?
What is the market cap of Eastman Chemical Company (EMN)?
What does Eastman Chemical Company specialize in?
What is Naia™ Renew?
How does Eastman contribute to sustainability?
Where is Eastman Chemical Company headquartered?
What is the Global Recycled Standard (GRS) certification?
How does Eastman support the circular economy?
What are some recent collaborations of Eastman?
How many employees does Eastman have?
What is Eastman's revenue?
What is Clearway® de-icer?
