Tritan gets a new order
In a press release on March 21, Eastman Chemical (EMN) announced that Tritan will collaborate with Skullcandy—known for its lifestyle headphones. Skullcandy has launched the Riff wireless on-ear headphone, which uses Eastman Chemical’s Tritan copolyester. Tritan’s inherent toughness and chemical resistance make it a quality product. However, Eastman Chemical didn’t provide the financial aspects of the deal.
Tritan is durable and BPA free. Tritan’s durability, ductility, clarity, and colorability have made it the preferred choice among several manufacturers. Tritan has received several orders in the past year. Tritan caters to several markets like household appliances, medical packaging, and devices, cosmetics, and consumer electronics.
Alex Dudal, Eastman Chemical’s market development manager, said, “We’re seeing an emerging pattern of consumers caring about the ingredients in both consumables and durable products such as electronic devices. Skullcandy is on trend with its commitment to quality materials like Tritan copolyester, proven to be superior to other polymers when it comes to strength and durability.”
Eastman Chemical’s stock price
On March 21, Eastman Chemical stock ended on a positive note. The stock rose ~0.5% and closed at $79.01. On a year-to-date basis, the stock has risen 9.28%. LyondellBasell (LYB), Westlake Chemical (WLK), and DowDuPont (DWDP) have risen 6.2%, 7.9%, and 5.5%, respectively. The broader market S&P 500 (SPY) has risen 1.1%.