Eastman Chemical Company (NYSE:EMN) announced today the mechanical completion of the expansion of specialty copolyester capacity at its manufacturing site in Columbia, S.C. The additional copolyester production is expected to come on-line June 2008.
This expansion is consistent with the company's previously announced plans to increase its global copolyester manufacturing capacity by transitioning legacy PET manufacturing assets to large-scale copolyester assets at its South Carolina site, the location of the company’s PET facility based on IntegRex™ technology. In addition to its facility in Kingsport, Tenn., this site is now the second Eastman facility in North America producing the copolyester family of specialty plastics.
“This new capacity positions us to continue to support our customers’ growth,” said Dante Rutstrom, vice president and general manager of Eastman’s Specialty Plastics business. “With this extension of production to our Columbia site, Eastman is able to create a broad, competitive manufacturing position. This facility represents a significant step up in scale, while continuing to take advantage of Eastman’s integration and overall polyester stream economy of scale.”
Eastman’s copolyesters are known for their excellent clarity, toughness and ease of use in processing. Additionally, they possess a number of environmentally-attractive qualities and are safe to use in a broad range of applications including rigid medical and electronics packaging, cosmetics and personal care packaging, medical devices, plastic cards, point of purchase displays and shrink film.
| Investors: Greg Riddle +1 212-835-1620 griddle@eastman.com |
