PolyOne and Eastman Chemical Company Form Strategic Alliance to Compound and Market Eastman Tritan(TM) Copolyesters
05 June 2008 - 9:30PM
PR Newswire (US)
CLEVELAND, June 5 /PRNewswire-FirstCall/ -- PolyOne Corporation
(NYSE: POL), a leading global provider of specialized polymer
materials, services and solutions, announced today that it has
signed a market development agreement with Eastman Chemical Company
(NYSE:EMN) designating PolyOne as the exclusive compounder of
filled systems with Eastman's new-generation Tritan(TM) copolyester
in North America. In this role, PolyOne will apply its
industry-leading formulation and compounding expertise to combine
Eastman Tritan(TM) copolyester with performance-enhancing additives
to develop fully compounded systems. PolyOne will work with its
customers and Eastman to develop new applications and markets for
these compounded materials, with a focus on high-value, specialty,
niche applications. Eastman's new Tritan(TM) copolyester is noted
for its clarity, toughness, high chemical and heat resistance, and
ease of processing. For molders, the innovative chemistry of
Tritan(TM) copolyester, which is manufactured without bisphenol-A
(BPA), offers numerous processing advantages as compared with other
transparent polymers. These include faster molding cycles, fewer
production steps and a potential for reduction in energy usage. It
can also be molded with lower levels of residual stress as compared
with polycarbonate. These unique properties make Eastman Tritan(TM)
copolyester ideal for many applications including molded parts for
small kitchen appliances, and items such as reusable food
containers and sports bottles that undergo repeated dishwasher
cycles. The performance of properties of Tritan(TM) copolyester
allows molded parts to withstand the dishwasher environment without
cracking or crazing. "We are pleased that Eastman is looking to
PolyOne for its technology and service capabilities to fulfill the
technical and commercial promise of this versatile new plastic,"
said Craig M. Nikrant, vice president and general manager,
Specialty Engineered Materials. "Our global operations allow us to
serve our customers with specialty compounds across the world. This
strategic partnership affirms PolyOne's commitment to its
specialization strategy and provides a unique value offering to
help our customers build a competitive advantage." Nikrant noted
that PolyOne's specialty manufacturing plant in Avon Lake, Ohio, is
designed to support projects such as Tritan(TM), with a focus on
rapid turnaround and speed to market. "Eastman is very excited
about the market potential of Eastman Tritan(TM) copolyester, with
its unique balance of properties, performance and processability,"
said Deborah Baum Crain, director of copolyester innovation. "This
new polymer offers outstanding durability, which provides long
product life as well as strong aesthetic appeal. We look forward to
teaming with PolyOne to expand the potential of Tritan(TM)
copolyester in innovative new compounds, applications and market
opportunities." About PolyOne PolyOne Corporation, with annual
revenues of more than $2.7 billion, is a leading global provider of
specialized polymer materials, services and solutions.
Headquartered outside of Cleveland, Ohio USA, PolyOne has
operations around the globe. For additional information on PolyOne,
visit our new Web site at http://www.polyone.com/ . About Eastman
Eastman manufactures and markets chemicals, fibers and plastics
worldwide. It provides key differentiated coatings, adhesives and
specialty plastics products; is a major supplier of cellulose
acetate fibers; and produces PET polymers for packaging. As a
Responsible Care(R) company, Eastman is committed to achieving the
highest standards of health, safety, environmental and security
performance. Founded in 1920 and headquartered in Kingsport, Tenn.,
Eastman is a FORTUNE 500 company with 2007 sales of $6.8 billion
and approximately 10,500 employees. For more information about
Eastman and its products, visit http://www.eastman.com/ .
DATASOURCE: PolyOne Corporation CONTACT: David Honeycutt, Director
of Marketing Communications of PolyOne Corp., +1-440-930-3154, ;
Lucy Stewart, Global Trade Media Relations Manager of Eastman
Chemical Company, +1-423-229-4229, Web site:
http://www.polyone.com/ http://www.eastman.com/
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