What is Foolsaurus?

It's a glossary of investing terms edited and maintained by our analysts, writers and YOU, our Foolish community.

Eastman Chemical

Eastman Chemical (NYSE: EMN) is a manufacturer of plastics and chemicals in the U.S.

Website: http://www.eastman.com

Company Description

Eastman Chemical was founded in 1920 as the Tennessee Eastman division of Eastman Kodak. The company was a response to shortages in World War I, when supplies of many chemicals traditionally imported from Europe were interrupted. Cellulose acetate for photographic safety film (replacing flammable nitrocellulose film) was an early product. Cellulosic fibers and plastics followed. Other plastics included polyethylene (1954), polypropylene (1961), and cellulose acetate butyrate (1962), and PET (1978). Polyester fiber. Superglue.

Eastman chemical products include methanol, acetic acid and derivatives, butyraldehyde and derivatives (butanol, isobutanol, butyric acid, neopentyl glycol, trimethylpentanediol), propionaldehyde and derivatives (propyl alcohol, propionic acid), cyclohexanedimethanol), solvents, plasticizers, processed tall oil fatty acid, rosin derivatives, and hydrocarbon resins.

Eastman Chemical announced plans to acquire Solutia in January, 2012. That added a variety of plastic films including safety glass interlayers and tinting films for windows and related architectural uses. The Hercules products made from pine trees (rosin, processed tall oil fatty acids, and hydrocarbon resins made from fractionated turpentine) now are part of Eastman Chemicals (acquired 2001)..

In 2011, Eastman sold its polyester business to DAK Americas. They sold resins, inks, and monomers in 2004; polyethylene in 2006; Texas gasification in 2009.

In 2014, Eastman acquired amines maker Taminco. Taminco was assembled from the amine businesses of several companies including Air Products, Akzo Nobel, UCB, and Arkema. Products include methylamines as well as higher amines (ethyl, propyl, isopropyl, butyl, amyl) and derivatives. Solvent products include n-methylpyrolidinone, DMF, and dimethylacetamide.

In 2015, Eastman announced Amphora branded thermoplastic media for 3D printing. They report working with 3D printing filament provider taulman 3D and desktop 3D printer developer Aleph Objects, Inc. Helian of Netherlands, owner of ColorFabb, a medium for the Stacker, low cost 3D printer is another user of Amphora. Carbon fiber media is also available.

Crystex, a polymeric sulfur, used as a non-blooming vulcanizing agent for unsaturated elastomers, (i.e. synthetic rubber) was mentioned as a promising specialty in a 2015 conference call.

Tritan is a BPA-free plastic replacement for polycarbonate for all types of houseware applications and medical applications.

Safety glass interlayers is a traditional business line acquired with Solutia. A promising new development is acoustic interlayers, that quiet the cabin in the vehicle and reduces weight of the glass to improve fuel efficiency. Double-digit growth in the acoustic interlayers was reported.

Eastman has reported double digit growth rates of its Eastman 168 brand of di-2-ethylhexyl terephthalate (DOTP). DOTP is a less toxic replacement for plasticizer di-2-ethylhexyl phthalate (DOP). In 2015, BASF announced plans to begin production of di-2-ethylhexyl terephthalate (DOTP), at its plant in Pasadena, TX. (The Monsanto line of plasticizers was apparently sold to Ferro who now owns the Santocizer trademark.)

Related Companies

Recent Mentions on Fool.com