KINGSPORT, Tenn., Oct. 17, 2013 - Eastman Chemical Company (NYSE:EMN) today announced it is expanding capacity of its Eastman 168(TM) non-phthalate plasticizers at its manufacturing facility in Texas City, Texas. The expansion at the site will increase the overall capacity of Eastman 168 by approximately 15 percent and is expected to be operational by mid-2014.
"We are pleased to announce this capacity addition at our Texas City manufacturing facility," said Jon Woods, Plasticizers business unit director. "Since this expansion leverages an existing asset, it will be completed with minimal capital investment and also positions us to execute another similar expansion on the same line in the near future. These planned capacity additions are consistent with our expectations of market growth envisioned when we acquired the Texas City facility in 2011. Demand for non-phthalate plasticizers continues to strengthen across a variety of end-markets and end-uses and this investment will allow Eastman to sustain its leadership position of serving the needs of current and new customers, particularly in North America and Europe."
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 2012 pro forma combined revenues, giving effect to the Solutia acquisition, of approximately $9.1 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
423-229-2526 / kristin@eastman.com
Investors: Gregory Riddle
212-835-1620 / griddle@eastman.com
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Eastman Chemical Company via Thomson Reuters ONE
HUG#1736406