Eastman Chemical to receive funding from US Dept of Energy; shares rise

Eastman Chemical Co

25/03/2024 14:46

** Shares of chemical company Eastman Chemical Co  EMN.N 
gain about 2.7% to $97.82
    ** The U.S. Department of Energy selects EMN to receive up
to $375 million in investment
    ** Co to receive funding for its second U.S. molecular
recycling project that aims to transform hard-to-recycle plastic
waste into virgin-quality polyethylene terephthalate (PET)
    ** PET is a material used for packaging, film, and fiber
applications
    ** Including session's gains, stock is up 8.8% YTD

 (Reporting by Vallari Srivastava in Bengaluru)
 ((Srivastava.Vallari@thomsonreuters.com;))