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Eastman Chemical Company announced a $0.02 per pound off-list price increase for all forms of Eastman NPG glycol in North America and Latin America, effective April 1, 2001. The company also announced a worldwide $0.045 per pound off-list price increase for Eastman purified isophthalic acid (PIA).
The company reports that manufacturing costs and raw material prices have increased significantly. This price increase is needed to begin moving margins toward reinvestment economics. Eastman NPG glycol, a resin intermediate, is a basic raw material used in the manufacturing of polyester resins for fiberglass reinforced plastics (FRP) marine and construction applications. PIA is a key ingredient in fiberglass reinforced plastics (FRP) markets for such products as marine, automotive, and corrosion resistant pipes and tanks.
Headquartered in Kingsport, Eastman manufactures and markets plastics, chemicals and fibers. The company has approximately 15,000 employees in 30 countries and had 2000 sales of $5.3 billion.
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