Eastman Completes Tritan Copolyester Expansion and Announces Additional Increase to Copolyester Capacity

"We are excited to announce the completion of our Tritan expansion and are pleased with the performance we're seeing from this new investment," said Burt Capel, vice president and general manager of Eastman's Specialty Plastics business. "The Tritan platform of products continues to see strong global adoption, with an increasing footprint of applications that recognize the robust performance of our polymer."

Eastman is also announcing an additional planned expansion of copolyester production to also be added at its Kingsport site. The newly announced expansion is expected to be complete in the third quarter of 2018 and will increase PETG and PCTG capacities by approximately 25 percent of the Kingsport specialty copolyester total capacity. This investment supports the continued growth of Eastman's specialty copolyester products globally and provides flexibility across the company's polymer asset base.

"This additional copolyester expansion positions Eastman to meet the increasing demand we're seeing for our copolyester materials around the world," Capel added. "It highlights our continued commitment to providing our global customers with the highest quality materials in the market."

Specialty Plastics is a part of Eastman's Advanced Materials business segment. PETG and PCTG are known by the tradenames of Eastar(TM), Spectar(TM) and Aspira(TM) copolyesters among others.

Eastman is a global advanced materials and specialty additives 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 more than 100 countries and had 2017 revenues of approximately $9.5 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^[1].

Contacts:Media: Kristin Parker423-229-2526/ [email protected]^[2]

Investors: Greg Riddle 212-835-1620/ [email protected]^[3]

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.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 http://www.acnnewswire.com From the Asia Corporate News Network

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References

1. ^{^} www.eastman.com (www.eastman.com)
2. ^{^} [email protected] (www.acnnewswire.com)
3. ^{^} [email protected] (www.acnnewswire.com)