Tag Archives: fibers

Eastman Chemical plans $1.6B East Tennessee investment

Eastman.2.JPGSpecialty chemicals maker Eastman Chemical Co. on Wednesday signaled a long-term commitment to East Tennessee with announcement of $1.6 billion plan to modernize its Kingsport, Tenn. facility

The investment will be made over the next seven years and create 300 new jobs, company and state officials said in a news release.

The so-called Project Inspire initiative will include investment in  “new growth opportunities, safety and environmental projects, increased warehouse capacity, building renovations and expansion of its corporate campus,” according to a news release.

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Eastman Chemical expected to report higher profit

Eastman Chemical is expected to report increased profit when it files its third quarter earnings report on Thursday.

Analysts are looking for a profit of $1.42 per share, which would be a 19 percent increase from $1.19 per share in the 2011 third quarter.

Eastman shares were down about 30 cents to $55.78 in early afternoon trading. The Kingsport, Tenn, company is a global producer of chemicals, plastics, and fibers.

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