Eastman Chemical Co EMN

KINGSPORT, Tenn., Feb. 14, 2024 /PRNewswire/ -- Eastman (NYSE: EMN) today announced a long-term agreement with Nord Pal Plast SA part of Dentis Group, a leading Italian multinational company specializing in the recovery and mechanical recycling of PET packaging waste. Through its mechanical recycling sites in France (Nord Pal Plast SA), Spain (PET COMPAÑÍA PARA SU RECICLADO) and Italy (Dentis Recycling Italy Srl), Dentis will provide 30,000 metric tonnes per year of rejected PET post-consumer waste to Eastman. These materials, which currently lack a circular solution, will be recycled at Eastman's molecular recycling facility in Port-Jérôme-sur-Seine, Normandy (France).

This partnership underscores the importance and complementary nature of both mechanical and molecular recycling processes in creating a more sustainable future. By combining their expertise and resources, both companies aim to achieve true circularity in the recycling process, maximizing the value of waste materials and reducing environmental impact.

"We are very pleased to enter into this agreement with Eastman since our group is strongly committed to promoting a continuous transition from a linear to a circular economy in the packaging market," said Corrado Dentis, Dentis/Nord Pal Plast's chief executive officer. "This partnership contributes to create a standing valuable platform towards PET waste reduction making mechanical and chemical recycling effectively complementary towards the achievements in European Plastic recycling rates."

"We are very happy to enter into this agreement with Dentis/Nord Pal Plast, which exemplifies Eastman's commitment to collaboration and our dedication to working alongside mechanical recyclers to tackle the plastic waste crisis," said Brad Lich, Eastman's executive vice president and chief commercial officer. "This partnership is a testament to our shared goal of reducing plastic waste and advancing the circular economy. With over 70% of the feedstock secured for our upcoming recycling plant in Normandy, including materials typically rejected by mechanical recyclers, this agreement represents a significant element of our feedstock availability and reinforces our commitment to sustainable solutions."

Eastman's announced molecular recycling facility in Normandy is set to become the world's largest material-to-material molecular recycling plant. At full capacity, after phase 1 and phase 2, the facility will have the capacity to recycle more than 200,000 tonnes of hard-to-recycle polyester waste annually. This significant investment in France marks a milestone in Eastman's commitment to sustainable solutions and supports the company's efforts to establish a more circular economy.

Eastman's molecular recycling technologies allow for the breakdown of hard-to-recycle waste into its molecular building blocks. These building blocks are then reassembled to create first-quality materials without compromising performance. Eastman's process enables the potentially infinite value of materials, keeping them in production cycle after cycle.

About Dentis, Nord Pal Plast
Founded in 1987, Dentis nowadays is a multi-national Group specialized in the recovery and recycling of PET packaging waste, leader in the European R-PET market. At its production site and group headquarters in Sant' Albano Stura (Cuneo), the company produces recycled PET bottle flakes with the brand name PETALO^® and bottle-grade rPET pellets with the brand name REPETER^® which it provides to Italian and international brand owners.

Focused on new challenges, in 2010s, Dentis opened at a season of PET market expansion by the acquisition of a recycling plant in Spain in 2013 (PET COMPAÑÍA PARA SU RECICLADO in Valencia, Spain) and a second one in France in 2018 (NORD PAL PLAST in Lille, France). Thanks to its mission and innovation policy, nowadays, Dentis Group ranks it as one of the largest mechanical RPET producer in Europe, having achieved the goal of a total recycling capacity of more than 270,000 tons of post-consumer PET bottles per year.

About Eastman
Founded in 1920, Eastman is a global specialty materials company that produces a broad range of products found in items people use every day. With the purpose of enhancing the quality of life in a material way, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. The company's innovation-driven growth model takes advantage of world-class technology platforms, deep customer engagement, and differentiated application development to grow its leading positions in attractive end markets such as transportation, building and construction, and consumables. As a globally inclusive and diverse company, Eastman employs approximately 14,000 people around the world and serves customers in more than 100 countries. The company had 2023 revenue of approximately $9.2 billion and is headquartered in Kingsport, Tennessee, USA. For more information, visit www.eastman.com.

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SOURCE Eastman