The acetate and tow business is slowly melting away -- otherwise know as the material from which cigarette filters are made -- even in China demand is expected to flatten out. Eastman gets over a quarter of earnings from this sector. Interesting that photographic films were once made on cellulosic stock, and the first synthetic fibers were cellulosics like rayon.
Good company, that's for sure. I like to wait til the end of the day to add on mega-dumps, though. REALLY surprised to see this big a drop. I didn't think their earns were bad at all, in fact I bot some calls as protection. Those of course turned into hairballs.