Eastman said it also is studying a possible second world-class North American site that would employ IntegRex technology and be on-line in 2009.
The company also announced a new integrated copolyester technology innovation intended to address high-value market opportunities that current copolyester products cannot serve. "Eastman is developing, once again, a proprietary position via our aggressive research and intellectual capital management program," Ferguson said.
Financial Discipline In discussing Eastman's financial strategy, Ferguson said that the company's objective is to maintain a corporate operating margin above 10 percent and returns above the cost of capital. The company expects volume growth to continue to exceed that of gross domestic product (GDP) for the foreseeable future.
“All of us at Eastman have worked hard to create a strong base of earnings, and we have a track record of delivering on our promises," Ferguson said. "With our new growth initiatives and continued financial discipline, I'm confident that we can build on our track record of success.”
An audio replay of today's presentations will be available for 30 days. For a link to the audio replay, go to www.eastman.com, Investors, Event Information, Audio Archives.
Eastman manufactures and markets chemicals, fibers and plastics worldwide. It provides key differentiated coatings, adhesives and specialty plastics products; is the world's largest producer of PET polymers for packaging; and is a major supplier of cellulose acetate fibers. Founded in 1920 and headquartered in Kingsport, Tenn., Eastman is a FORTUNE 500 company with 2004 sales of $6.6 billion and approximately 12,000 employees.
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