Eastman Chemical Company

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company headquartered in Kingsport, Tennessee. Founded in 1920 to produce chemicals for Eastman Kodak, Eastman Chemical became an independent company in 1994 when it was spun off from Kodak.

Eastman produces a broad range of advanced materials, additives, specialty chemicals, and fibers that are found in products people use every day. Its major segments include:

• Advanced Materials: Specialty plastics, interlayers, and performance films

• Additives & Functional Products: Coatings additives, care additives, and specialty fluids

• Fibers: Acetate tow and textiles

• Chemical Intermediates: Intermediate chemicals and plasticizers

In 2023, Eastman had revenue of approximately USD 9.2 billion. The company employs around 14,000 people globally and serves customers in over 100 countries.

Eastman has been a leader in chemical innovation throughout its history. It was the first US manufacturer to develop technology deriving chemicals from coal rather than petroleum. More recently, Eastman has been investing heavily in chemical recycling technology. In 2022, it opened the world's largest molecular recycling facility in Kingsport.

The company aims to leverage its technology platforms and innovation to grow in attractive end markets like transportation, building & construction, and consumables. Eastman has set sustainability goals around the circular economy, climate change, and inclusivity.

Eastman faces challenges from economic cycles and raw material price volatility. However, it aims to drive growth through innovation, operational excellence, and expansion of its specialty product portfolio. The company generated approximately USD 1.4 billion in operating cash flow in 2023 and expects similar performance in 2024.