Eastman Discontinues Perennial Wood™ Business
Kingsport, Tenn., Jan. 31, 2014 —Eastman Chemical Company (NYSE: EMN) has decided to discontinue the Perennial Wood™ product line and business operations. As a specialty chemical company, Eastman is committed to creating consistent, superior value for all of its stakeholders and this includes maximizing the value of its portfolio of products.
“A lot of talented Eastman employees and external partners worked very hard on this project, and this outcome is not a reflection of their dedication or hard work,” said Tim Dell, vice president of innovation, marketing, sales and pricing at Eastman. “Additionally, this decision was not made based on product performance, but rather on the challenging economics of the product market.”
Eastman remains committed to ongoing professional relationships with its customers and will provide continued support during this transitional time. Perennial Wood products will remain available in the market while supplies last. To learn where products can be purchased, visit PerennialWood.com. Eastman will honor the 25-year limited residential warranty for product sold at retail under the Perennial Wood brand name. Warranties must be registered within 30 days of purchase at PerennialWood.com or through the customer center at 800-530-7495.
The building and construction market remains a priority for the company and this decision does not impact other Eastman products.
About Eastman Chemical Company
Eastman is a global specialty chemical company that produces a broad range of products found in items people use every day. With a portfolio of specialty businesses, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. Its market-driven approaches take advantage of world-class technology platforms and leading positions in attractive end-markets such as transportation, building and construction and consumables. Eastman focuses on creating consistent, superior value for all stakeholders. As a globally diverse company, Eastman serves customers in approximately 100 countries and had 2012 pro forma combined revenues, giving effect to the Solutia acquisition, of approximately $9.1 billion. The company is headquartered in Kingsport, Tennessee, USA and employs approximately 14,000 people around the world. For more information, visit www.eastman.com.
NOTE TO MEDIA: Eastman will hold a press conference on Wednesday, Feb. 5, 2014, at 7:30 a.m. PST at the International Builders’ Show in Las Vegas. For more information and to RSVP for the event, contact Amy Lewis via email [firstname.lastname@example.org] or by phone 651.450.9222.