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Eastman Chemical (NYSE: EMN) | Company Profile, History, Competitors


Eastman Chemical (NYSE: EMN) is a global specialty chemicals company that produces a wide range of advanced materials, specialty additives, chemicals and fibers. The company has 49 manufacturing sites and 6 joint ventures in 14 countries around the world. It was founded in 1920 and headquartered in Kingsport, TN.

Eastman Chemical was founded in 1920 as part of Eastman Kodak. It was spun off in 1993 to become a separate public company. Eastman is a global producer of specialty chemicals including acetate tow (goes into cigarettes), cellulose esters (coating additives) and acetaldehyde (to produce acetic acid).

Business Overview

Eastman Chemical has 4 key operating segments:
  • Additives and Functional Products (35% of Revenues): The Additives and Functional Products segment manufactures chemicals for the coatings, tires, consumables, building & construction, industrials, animal nutrition, crop protection and energy markets. Key chemicals in this segment are cellulose ethers, polyester polymers, hydrocarbon resins, alkylamine derivatives and propylene derivatives.
  • Advanced Materials (27% of Revenues): The Advanced Materials segment produces polymers, films, and plastics for transportation, consumables, building products, durable goods and health end markets. Key chemicals in this segment are specialty co-polyesters, PVB resin adhesives and performance films.
  • Chemical Intermediates (29% of Revenues): The Chemical Intermediates segment sells produced intermediates to industrial chemicals, building & construction, health and agrochemicals. Key chemicals in this segment are oxo alcohols, acetyl derivatives, acetic acid, non-phthalate and phthalate plasticizes, alkyalmines, ethylene, esters and glycol esthers. 
  • Fibers (9% of Revenues): The Fibers segment manufactures and sells Estron acetate tow and Estrobond triacetin plasticizers for the manufacture of cigarette filters. Eastman is one of the world's two largest suppliers of acetate tow and the largest supplier of acetate yarn.


Eastman benefits from strong vertical consolidation in its manufacturing process. Eastman begins with very basic raw materials like coal, propane and paraxylene. Eastman uses these inputs to produce chemicals further down the chain. 

Compared to commodity chemical businesses, Eastman has significant downstream integration, technological and technical expertise, strong partnerships with customers and a global logistics/distribution system.


The company was founded in 1920 as a division of Eastman Kodak. In 1994, the company spun off from Eastman Kodak to become a separate public company. In 2012, Eastman acquired Solutia, a performance chemicals maker. In 2014, Eastman acquired Taminco, a global leader in alkylamines, for $2.8 billion.


Mark Costa (CEO): Mark Costa has been CEO since 2014. He has held various roles at Eastman including additives, specialty polymers and corporate strategy.

Curtis Espeland (CFO): Curtis Espeland has been CFO since 2008. He has held various roles at Eastman including chief accounting officer, VP of finance and controller.


 $ USD in millions    2013    2014 2015 2016 2017
 Revenues $9,350 $9,527 $9,648 $9,008 $9,549 
 Gross Profit $2,776 $2,461  $2,664  $2,428  $2,443 
 Operating Profit $1,862 $1,162  $1,384  $1,383  $1,534 
 Net Income $437 $1,165 $848 $854 $1,384 
 EPS$7.44 $4.97 $5.66 $5.75 $9.47