Eastman (EMN) To Expand In Dresden For Boosting Film Business
Zacks Investment Research | Jan 09, 2020 10:22PM ET
Eastman Chemical Company (NYSE:EMN) recently announced a capacity expansion at its production facility in Dresden, Germany to support a new coating and laminating line for film. This investment is anticipated to support the strong growth momentum of the company’s high-performance branded paint protection and window film products.
Notably, the capacity extension will strengthen Eastman Chemical’s assets in Martinsville, VA and is expected to be online by the middle of 2021, creating about 50 new job opportunities at the site.
Per Eastman Chemical, the additional capacity will enable the company to meet an ongoing ramp-up of its paint protection films in Europe and around the globe. This strategic move will also provide impetus to address the increasing customer needs for high-value automotive and architectural window.
Eastman Chemical announced a string of important investments in paint protection films, such as a Performance Films Patterns and Software Center of Excellence, multiple expansions at its production hub in Martinsville plus Core pattern and business operations software.
Shares of Eastman Chemical have dipped 1.4% in the past year compared with the Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.