Eastman restores Kingsport site operations after shutdown

14 Jun '14

2 min read

Eastman Chemical Company announced that operations at its Kingsport, Tenn., site have been substantially restored following an unplanned shutdown on June 4.

Eastman has made tremendous progress in bringing the plant back online in a safe and orderly manner with no material financial impact. Based on current information, the company projects the shutdown will negatively impact earnings between $0.05 and $0.10 per share, and continues to expect full-year 2014 earnings per share to be between $6.70 and $7.00. Non-core and non-recurring items are excluded from the earnings per share projection.

“I am very proud of the Eastman team for their quick and professional response to this unfortunate shutdown. As a result of their efforts, we experienced no serious injuries or impact to the environment,” said Mark Costa, chief executive officer. “We take our commitment to being a reliable supplier seriously and we greatly appreciate the support of our customers as we worked to safely restore operations.”

Eastman is a global specialty chemical 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 approximately 100 countries and had 2013 revenues of approximately $9.4 billion.

Eastman Chemical Company

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