Last €62.36 EUR
Change Today +1.34 / 2.20%
Volume 22.0
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As of 11:42 AM 10/22/14 All times are local (Market data is delayed by at least 15 minutes).

eastman chemical co (EAC) Snapshot

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06/5/14 - €66.31
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12/16/13 - €52.31
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Current Stock Chart for EASTMAN CHEMICAL CO (EAC)

eastman chemical co (EAC) Details

Eastman Chemical Company, a specialty chemical company, manufactures and sells chemicals, plastics, and fibers in the United States and internationally. The company’s Additives & Functional Products segment offers solvents that include specialty coalescents and ketones, esters, glycol ethers, and alcohol solvents; cellulose and polyester-based specialty polymers; insoluble sulfur products; antidegradant products; and hydrocarbon resins. This segment’s products are used in coatings and tire industries in transportation, building and construction, durable goods, and consumables markets. Its Adhesives & Plasticizers segment manufactures resins and plasticizers, which are used in the consumables, building and construction, health and wellness, industrial chemicals and processing, and durable goods, markets. The company’ Advanced Materials segment produces and markets specialty copolyesters, cellulose esters, interlayers, and aftermarket window film products that are used in transportation, consumables, building and construction, durable goods, and health and wellness products. Its Fibers segment offers Estron acetate tow and Estrobond triacetin plasticizers for use in the manufacture of cigarette filters; Estron natural and Chromspun solutions dyed acetate yarns for use in apparel, home furnishings, and industrial fabrics; and cellulose acetate flake and acetyl raw materials for other acetate fiber producers. The company’s products include acetate tow, acetate yarn, and acetyl chemical products. Its Specialty Fluids & Intermediates segment provides specialty fluids, acetyl chemical intermediates, and olefin derivatives that are used in industrial chemicals and processing, building and construction, health and wellness, and agriculture markets. The company also offers aviation turbine oil. Eastman Chemical Company was founded in 1920 and is headquartered in Kingsport, Tennessee.

14,000 Employees
Last Reported Date: 02/28/14
Founded in 1920

eastman chemical co (EAC) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $696.8K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $598.1K
Chief Operating Officer
Total Annual Compensation: $698.6K
Chief Legal Officer, Senior Vice President an...
Total Annual Compensation: $467.6K
Compensation as of Fiscal Year 2013.

eastman chemical co (EAC) Key Developments

Eastman Chemical Company Enters into Five-Year Senior Term Loan Credit Agreement

On October 9, 2014, the Eastman Chemical Company entered into a Five-Year Senior Term Loan Credit Agreement with the initial lenders named therein; Citibank, N.A. as administrative agent; Citi, J.P. Morgan Securities LLC, and Merrill Lynch, Pierce, Fenner & Smith Incorporated as joint lead arrangers; Bank of America, N.A. as documentation agent; and JPMorgan Chase Bank, N.A. as syndication agent. The Term Loan Agreement provides for a $1.0 billion term loan facility, the proceeds of which are expected to be used to partially fund completion of the Acquisition, including repaying certain outstanding indebtedness of Taminco and Acquisition fees and expenses. Funding under the Term Loan Agreement is subject to customary conditions for financings of this type. In addition, funding is also subject to the closing of the Acquisition. Borrowings under the Term Loan Agreement will be unsecured, and will bear interest at a variable base rate or a variable Eurodollar rate based on the London Interbank Offered Rate (LIBOR), at Eastman's election. Interest on base rate loans will be at varying spreads above quoted market rates, depending on Eastman's unsecured credit rating. Interest on Eurodollar rate loans will be determined by reference to LIBOR plus an applicable margin, depending on Eastman's unsecured credit rating. Borrowings under the Term Loan Agreement will amortize in quarterly installments from the date of borrowing as follows: 0% annually in the first year after the date of borrowing; 20% annually in the second year after the date of borrowing; 25% annually in the third and fourth years after the date of borrowing; and 30% annually in the fifth year after the date of borrowing. Borrowings outstanding under the Term Loan Agreement will be due and payable five years from the date of closing of the Acquisition. The term Loan Agreement contains customary events of default, representations, warranties, and covenants, including the maintenance of a ratio of Debt to Consolidated EBITDA (as defined in the Term Loan Agreement) for any four consecutive quarters of not greater than: 4.0 to 1 through December 30, 2015; 3.75 to 1 commencing on December 31, 2015; and 3.5 to 1 commencing on December 31, 2016. Eastman has agreed to pay the lenders customary fees, including a commitment fee based upon the undrawn portion of commitments under the Term Loan Agreement.

Eastman Chemical Company Completes Capacity Expansion of its Eastman 168 Non-Phthalate Plasticizers at its Manufacturing Facility in Texas City, Texas

Eastman Chemical Company has completed a previously announced capacity expansion of its Eastman 168(TM) non-phthalate plasticizers at its manufacturing facility in Texas City, Texas. The expansion at the site increased the overall capacity of Eastman 168 by approximately 15%. Non-phthalate plasticizers are broadly used in products such as toys, childcare items, food contact materials and medical devices, and are also used to provide flexibility to PVC in a wide variety of applications. End markets for non-phthalate plasticizers include building and construction, health and wellness, and a broad range of consumer products.

Eastman Chemical Co., Taminco Corporation - M&A Call

To discuss the acquisition agreement between the company and Taminco Corporation


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Valuation EAC Industry Range
Price/Earnings 10.2x
Price/Sales 1.2x
Price/Book 3.0x
Price/Cash Flow 9.9x
TEV/Sales 0.7x

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