January 25, 2021

Gruppo

Eastman Chemical Company EMN recently announced partnership with Italy-based Gruppo Maip to formulate new sustainable polymer solutions for automotive applications. This will facilitate a range of formulations based on Eastman’s Advanced Circular Recycling technology, giving both biobased and molecular-recycled content solutions with Eastman Tritan Renew copolyester and Treva Renew engineering bioplastic.

Tritan Renew is powered by Eastman’s polyester renewal technology. It provides up to 50% certified recycled content redirected from post-consumer and postindustrial waste streams. It delivers the same high performance as virgin plastics, unlike mechanically recycled plastics.

Up to 48% of Treva Renew is biobased content sourced from sustainably managed forests. It is certified by the USDA’s Bio Preferred program. Moreover, it gains from carbon renewal technology that uses mixed waste plastic, providing an additional 23% certified recycled content.

Eastman Chemical is benefiting from its innovation-driven growth model, cost-management actions and acquisitions.

Eastman Chemical, in its third-quarter call, stated that it has entered the fourth quarter of 2020 with strong momentum. It expects adjusted earnings per share (EPS) for the fourth quarter to be similar to fourth-quarter 2019 adjusted EPS of $1.42. The company also noted that it is on track to deliver nearly $150 million of cost savings for 2020 with around $40 million expected in the fourth quarter. It also expects to generate more than $1 billion of free cash flow this year.

 

Eastman Chemical Company Price and Consensus

 

Eastman Chemical Company Price and Consensus

Eastman Chemical Company price-consensus-chart | Eastman Chemical Company Quote

 

Zacks Rank and Key Picks

Eastman Chemical currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks worth considering in the basic materials space are New Gold Inc. NGD, Barrick Gold Corporation GOLD, and Pretium Resources Inc. PVG.

New Gold has a projected earnings growth rate of 100% for the current year. The company’s shares have rallied around 121% in a year. It currently carries a Zacks Rack #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Barrick Gold has an expected earnings growth rate of 115.7% for the current year. The company’s shares have surged around 42% in the past year. It currently carries a Zacks Rank #2.

Pretium Resources has an expected earnings growth rate of 25.5% for the current year. The company’s shares have gained around 15% in the past year. It currently carries a Zacks Rank #2.

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Specialty formulations to deliver biobased and molecular-recycled content

KINGSPORT, Tenn., Nov. 17, 2020 /CNW/ — Eastman and Gruppo Maip, a leading international plastics formulator and compound producer based in Turin, Italy, have announced a partnership to formulate new sustainable polymer solutions for automotive interior applications. This will enable an exclusive portfolio of formulations based on Eastman’s Advanced Circular Recycling technology, offering a range of both biobased and molecular-recycled content solutions with Eastman Tritan Renew copolyester and Trēva Renew engineering bioplastic.

“Gruppo Maip is the right strategic partner to help bring new sustainable polymer formulations to the automotive industry,” said Scott Ballard, Eastman’s vice president and general manager of specialty plastics.

“This partnership allows us to develop breakthrough specialty plastic formulations for automakers to meet their aggressive targets for sustainable content and replacement of petroleum-based materials,” said Eligio Martini, president of Gruppo Maip. “Through Eastman’s circular recycling technologies, OEM manufacturers will now be able to specify content and recycled-content plastics in critical Class A components, such as molded-in-color interior trim.”

Tritan Renew is powered by Eastman’s polyester renewal technology and delivers up to 50% certified recycled content* diverted from post-consumer and postindustrial waste streams. Unlike mechanically recycled plastics, Tritan Renew offers the same high performance as virgin plastics.

Trēva Renew offers up to 48% biobased content sourced from sustainably managed forests and is certified by the USDA’s BioPreferred® program. In addition, Trēva™ Renew benefits from carbon renewal technology that uses mixed waste plastic, providing an additional 23% certified recycled content* as an alternative to polycarbonate, ABS and PC-ABS.

“Gruppo Maip is the right strategic partner to help bring new sustainable polymer formulations to the automotive industry,” said Scott Ballard, Eastman’s vice president and general manager of specialty plastics. “They’re a company with formulation expertise, strong relationships with manufacturers and, above all, a deep commitment to sustainability. Together, we’re looking forward to bringing a new level of sustainability to the automotive industry.”

Visit eastman.eco to find out more about Eastman’s advanced recycling technologies.

*Via its Advanced Circular Recycling technologies, Eastman produces circular products that are certified by the International Sustainability and Carbon Certification (ISCC) by mass balance allocation.

About Eastman
Eastman is a global specialty materials company that produces a broad range of products found in items people use every day. With the purpose of enhancing the quality of life in a material way, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. The company’s innovation-driven growth model takes advantage of world-class technology platforms, deep customer engagement, and differentiated application development to grow its leading positions in attractive end markets such as transportation, building and construction, and consumables. As a globally inclusive and diverse company, Eastman employs approximately 14,500 people around the world and serves customers in more than 100 countries. The company had 2019 revenues of approximately $9.3 billion and is headquartered in Kingsport, Tennessee, USA. For more information, visit www.eastman.com.

About Eastman in the circular economy
In 2019, Eastman began commercial-scale chemical recycling for a broad set of waste plastics that would otherwise be landfilled, incinerated, or worse, end up in the

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As carmakers’ interest in more sustainable solutions grows, attention is also increasingly being directed at the auto interiors and the materials used in them.

While plastics are estimated to make up around 10 percent of the weight of a vehicle today, they account for some 50 percent of the volume. Quite a lot of that is found in the interior, in seats, upholstery, instrument panels, headliners, door panels, consoles and much more.

Automakers are increasingly looking at new alternatives to replace the use of conventional resins in these products.

Eastman Chemical Co. of Kingsport, Tenn., and Gruppo Maip, a leading international plastics formulator and compound producer based in Turin, Italy, have now announced a partnership aimed at formulating sustainable polymer solutions for these interior applications, enabling automakers to “meet their aggressive targets for sustainable content and replacement of petroleum-based materials,” said Eligio Martini, president of Gruppo Maip.

The companies will develop a portfolio of products based on raw materials derived from Eastman’s advanced circular recycling technologies, of which there are currently two.

Eastman has launched a molecular recycling, carbon renewal technology (CRT) that breaks down post consumer non-polyester waste plastics into basic molecular building blocks and a polyester renewal technology that processes polyester plastic waste that into basic polymer building blocks.

From these building blocks, Eastman produces the next-generation circular materials Eastman Tritan Renew copolyester and Treva Renew engineering bioplastic, on which the new formulations will be based.

Tritan Renew is derived from Eastman’s polyester renewal technology and delivers up to 50 percent certified recycled content diverted from post-consumer and postindustrial waste streams. It offers the same high performance as virgin plastics. Eastman certified recycled content is achieved through a mass balance allocation process certified by International Sustainability & Carbon Certification.

Treva Renew contains up to 48 percent bio-based content sourced from sustainably managed forests and is certified by the USDA’s BioPreferred program. The material also incorporates recycled waste plastic material derived from Eastman’s carbon renewal technology, providing an additional 23 percent certified recycled content as an alternative to polycarbonate, ABS and PC-ABS.

“Through Eastman’s circular recycling technologies, OEM manufacturers will now be able to specify content and recycled-content plastics in critical Class A components, such as molded-in-color interior trim,” Martini added.

Scott Ballard, Eastman’s vice president and general manager of specialty plastics called Gruppo Maip is the ‘right strategic partner to help bring new sustainable polymer formulations to the automotive industry’. 

“Together, we’re looking forward to bringing a new level of sustainability to the automotive industry,” he said.

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