Eastman Chemical Co. says it is cutting an undisclosed number of jobs globally, citing “the ongoing U.S.-China trade dispute” and an economic slowdown in Europe.
Eastman spokeswoman Betty Payne said in a statement Thursday that the chemical and plastics manufacturer has seen reduced demand for its products, and it must do more to manage costs amid “tremendous uncertainty.”
Eastman says is delaying salary raises for employees in certain jobs. The Kingsport, Tennessee-based company also said it is making a “modest and targeted reduction in our workforce.” Payne would not share specific details.
The company reported $10.2 billion in sales last year. CEO Mark Costa said in a Jan. 31 financial report that Eastman had a challenging fourth quarter as demand for specialty products in China fell.
By Adrian Sainz
Source: Associated Press via Fox News
Eastman Chemical Co. (Kingsport, Tenn.) announced it has acquired Ai-Red Technology (Dalian) Co., Ltd., a manufacturer and supplier of paint protection and window film for auto and architectural markets in the Asia Pacific region.
BASF and Israeli packager StePac have joined forces to create the “next generation” of fresh produce packaging. BASF will provide StePac with greater flexibility to advance contact-sensitive packaging formats to a higher sustainability standard by supplying StePac with Ultramid Ccycled – a chemically recycled polyamide 6.
TotalEnergies’ biorefinery in La Mède, France, allows direct access to renewable feedstock for its drop-in RE:newable polymer range derived from bio-based products. The company claims these polymers retain virgin-like properties.
