Eastman

Eastman to Expand Resin and Polymer Production

KINGSPORT, Tenn., May 22, 2019 - Eastman Chemical Company (NYSE:EMN) today announced investments in expanding its capabilities for the production of hydrogenated and non-hydrogenated hydrocarbon resins at both its Middelburg, The Netherlands, and Jefferson, Pennsylvania, manufacturing sites. Additional investments will also be made in the production of polyolefin polymers at the Longview, Texas, manufacturing site. The expansions will be completed at various times beginning in 2019, with all expected to be finished by mid-2020. These investments support the growth strategy of Eastman’s Adhesives Resins business, which is part of its Additives & Functional Products operating segment.

“These expansions demonstrate our commitment to innovation-led growth for our hydrocarbon resin and polymer customers,” said Mahendra Dorairaj, vice president and general manager, Adhesives and Specialty Fluids & Energy businesses. “Consumer preference for higher purity, lower odor tackifiers and polymers offer a great opportunity for Eastman to continue to expand its product portfolio and grow our significance with our key customers. The investments will enable the production of premium tackifiers and resins with best in class purity, continuing our legacy as a premium supplier and key innovator in the industry. While these investments expand our capacity between 10 and 15 percent, what is most exciting is that they continue to position Eastman’s products as the premium offerings in this market.”

Eastman’s hydrocarbon resins are used as raw materials essential in hotmelt and pressure sensitive adhesives, and as binders in nonwoven products such as disposable diapers, feminine products, and pre-saturated wipes. They are also used in a wide range of applications including plastics and rubber modification. Due to their versatility and broad compatibility, Eastman’s hydrocarbon resins can be formulated with a wide range of styrenic and polyolefinic polymers and offer excellent stability and adhesion.

Eastman’s Eastoflex™ and Aerafin™ polyolefin polymer products are used in hygiene, tape, and roofing products. They offer broad processing capabilities with clean-running, low-temperature processability, low odor, good adhesion, excellent peel strength, lower tackifier loading than most block copolymer adhesive resin formulations, excellent thermal stability, and compatibility with hydrocarbon tackifier resins.

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 2018 revenues of approximately $10 billion. The company is headquartered in Kingsport, Tennessee, USA and employs approximately 14,500 people around the world. For more information, visit www.eastman.com.

Contacts:

Media: Tracy Kilgore Addington
423-384-5027 / tracy@eastman.com

Investors: Gregory Riddle
212-835-1620 / griddle@eastman.com

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