Eastman to Expand Performance Films Capacity
KINGSPORT, Tenn., May 30, 2017 - Eastman Chemical Company (EMN) today announced a planned expansion of its Performance Films manufacturing capacity in Martinsville, Virginia. The capacity expansion is expected to be complete in late 2017 and will increase capacity for both paint protection films and window films to support the continued growth of the LLumar® and Suntek® brands. The expansion is Eastman`s largest film expansion to date and will be a state-of-the-art facility that will produce high performance films for the automotive and architectural markets. The expansion will provide additional high-quality jobs for the Martinsville Henry County community. This project is in addition to the $40 million investment that was announced in September of 2013.
"This expansion positions Eastman to meet the great growth in demand for window and paint protection films we`re seeing from our customers around the world," said Travis Smith, vice president and general manager of Eastman`s Performance Films business. "This investment further solidifies Eastman`s commitment to the window and paint protection films markets and to making our manufacturing site in Henry County a state-of-the-art facility that produces the world`s highest quality films products."
This news follows the recent launch of Eastman`s next generation paint protection film products which provide best in industry combination of performance, aethestics, and installation ease and has resulted in tremendous adoption and acceptance by dealers and customers around the world. Eastman continues to drive investments related to product development and innovation, manufacturing and quality excellence, and consumer marketing programs to support development and growth of the window film and protective film markets.
"We see exciting growth potential for our portfolio of films and our dealer network," said Darrell Reed, Performance Films commercial director for Americas, Europe, Middle East & Africa. "We are making these investments in product innovation, manufacturing capacity, and marketing and support services to help our customers provide high-quality products to meet the needs of consumers and ultimately to allow our customers to further differentiate and grow their business."
Performance Films is a part of Eastman`s Advanced Materials business segment. With 60 years of experience, Eastman is the world`s leading manufacturer and marketer of high performance window and paint protection films that are used in automotive and architectural applications. To learn more about Eastman window and paint protection films visit www.llumar.com and www.suntekfilms.com.
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 2016 revenues of approximately $9.0 billion. The company is headquartered in Kingsport, Tennessee, USA and employs approximately 14,000 people around the world. For more information, visit www.eastman.com.
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Contacts:
Media: Kristin Parker
423-229-2526/ kristin@eastman.com
Investors: Louis Reavis
704-320-3577/ lreavis@eastman.com
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Source: Eastman Chemical Company via GlobeNewswire
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