Eastman Continues Consolidation Efforts in Europe.Business Editors KINGSPORT, Tenn.--(BUSINESS WIRE)--April 11, 2002 Eastman Chemical Company Eastman Chemical Company is a United States based chemical company, engaged in the manufacture and sale of chemicals, plastics and fibers. Eastman has 16 manufacturing sites in 10 countries, supplying its products throughout the world. (NYSE NYSE See: New York Stock Exchange : EMN EMN Equity Market Neutral (investing) EMN École Nationale de la Magistrature (French National School for the Training of Judges and Prosecutors) EMN Electromagnetic Noise ) today announced another step in its continuing strategy to improve capacity utilization Capacity Utilization measures the rate at which a firm makes use of their capital productive capacities, such as factories and machinery. Capacity Utilization generally rises when the economy is healthy and falls when demand softens. by consolidating manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. . Eastman announced plans to close Altovar Ltd., its facility in Banbury, England, and move production to Kallo, Belgium, while maintaining storage and distribution capabilities in the United Kingdom for graphic arts products. The Banbury site, which has 18 employees, supplies varnishes for the graphic arts industry. "Customers depend on Eastman to deliver high-quality products in a timely fashion, and we will continue to meet that expectation," said Francois Vleugels, vice president and general manager of Eastman's Coatings, Adhesives, Specialty Polymers and Inks business. Vleugels said he expects production at the Banbury facility to stop by the end of 2002. Godefroy Motte motte 1 also mott n. Texas A copse or small stand of trees on a prairie. [American Spanish mata, from Spanish, shrub, probably from Late Latin matta, , president of Eastman's Europe, Middle East and Africa region, said, "Moving production allows the company to improve productivity and maintain competitiveness. With some relatively small investments, we can incorporate products currently produced at Banbury into our larger operation at Kallo." Charges related to the plant closure are not material to the company's financial results. With headquarters in Kingsport, Eastman manufactures and markets chemicals, fibers and plastics. The company has approximately 15,800 employees in more than 30 countries and had 2001 sales of US$5.4 billion. For more information about the company, visit www.eastman.com. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion