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Kingsport, Tenn., USA, Sept 19, 2014 - (ACN Newswire) - Eastman Chemical Company (NYSE:EMN) has completed a previously announced capacity expansion of its Eastman 168(TM) non-phthalate plasticizers at its manufacturing facility in Texas City, Texas. The expansion at the site increased the overall capacity of Eastman 168 by approximately 15 percent.
"We are pleased with the completion of this important expansion," said Jon Woods, Plasticizers business unit director. "Since this expansion leveraged an existing asset, it was completed with minimal capital investment."
"With our view of global demand for DEHT at 500,000 tons in 2014, we see continued demand for non-phthalate plasticizers and expect the market to need our next phase of capacity expansion by mid-2016," Woods added. "This additional capacity would also leverage the existing plants in Kingsport and Texas City and be a relatively low cost investment that would take our full capacity for Eastman 168 above 200,000 tons. The combination of our Kingsport and Texas City manufacturing allows Eastman to sustain its leadership position to serve both the North American and export markets, with Europe being a particular area of focus."
Non-phthalate plasticizers are broadly used in products such as toys, childcare items, food contact materials and medical devices, and are also used to provide flexibility to PVC in a wide variety of applications. End markets for non-phthalate plasticizers include building and construction, health and wellness, and a broad range of consumer products.
Eastman is a global specialty chemical company that produces a broad range of products found in items people use every day. With a portfolio of specialty businesses, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. Its market-driven approaches take advantage of world-class technology platforms and leading positions in attractive end-markets such as transportation, building and construction and consumables. Eastman focuses on creating consistent, superior value for all stakeholders. As a globally diverse company, Eastman serves customers in approximately 100 countries and had 2013 revenues of approximately $9.4 billion. The company is headquartered in Kingsport, Tennessee, USA and employs approximately 14,000 people around the world. For more information, visit www.eastman.com.
Contacts:
Media: Kristin Parker +1-423-229-2526 / kristin@eastman.com
Investors: Gregory Riddle +1-212-835-1620 / griddle@eastman.com
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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Eastman Chemical Company via Globenewswire
Topic: Press release summary
Source: Eastman Chemical Company
https://www.acnnewswire.com
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