Eastman to raise global copolyester manufacturing capacity
16 Nov '06
3 min read
Eastman Chemical Company Chairman and CEO Brian Ferguson and other Senior Executives reviewed recent accomplishments and strategies for continued growth at Eastman's 2006 Investor Day meeting in New York City.
In discussing the company's track record of value creation, Ferguson noted that through October 2006, Eastman has delivered an 89 percent total return to stockholders since 2002, outperforming the S&P 500 by more than 50 percent.
“Eastman is well-positioned for sustained success in the near-, mid-, and long-term,” said Ferguson, who cited the following value drivers for the company:
Through innovation and strategic actions, Eastman expects to substantially improve the profitability of its PET polymers business and to achieve operating margins of approximately 10 percent by the second half of 2008.
Eastman expects continued strong and steady financial performance from its solid base of businesses in the fibers; coatings, adhesives, specialty polymers and inks (CASPI); and specialty plastics segments.
Innovation and Strategic Actions to Improve PET Profitability Dr. Gregory O. Nelson, Executive Vice President and head of the polymers business group, announced the company's plan to transform its PET polymers business.
Solid Base of Businesses Provide Strong, Steady Financial Performance: In discussing the company's fibers, CASPI and specialty plastics segments, Ferguson noted the operating earnings from these three segments accounted for about 75 percent of Eastman's operating earnings through the first nine months of 2006 and about 40 percent of the overall revenue.
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