Operations safely restored with no serious injuries or impact to the environment
Eastman Chemical Company (NYSE:EMN) announced today that operations at its Kingsport, Tenn., site have been substantially restored following an unplanned shutdown on June 4.
Eastman has made tremendous progress in bringing the plant back online in a safe and orderly manner with no material financial impact. Based on current information, the company projects the shutdown will negatively impact earnings between $0.05 and $0.10 per share, and continues to expect full-year 2014 earnings per share to be between $6.70 and $7.00. Non-core and non-recurring items are excluded from the earnings per share projection.
"I am very proud of the Eastman team for their quick and professional response to this unfortunate shutdown. As a result of their efforts, we experienced no serious injuries or impact to the environment," said Mark Costa, chief executive officer. "We take our commitment to being a reliable supplier seriously and we greatly appreciate the support of our customers as we worked to safely restore operations."
www.eastman.com
