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Eastman Chemical (EMN) Launches Cristal One Recyclable Resins

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Eastman Chemical Company (EMN - Free Report) has announced the launch of Eastman Cristal One, a portfolio of Resin Identification Code 1 (RIC1) resins geared to meet the stringent demands of thick-walled packaging for luxury cosmetics. These innovative products are the first-of-kind RIC1 materials that permit the production of transparent jars of up to 12 mm in thickness.

FusionPKG, an Aptar company, is introducing several new products, manufactured using Cristal One as well as other sustainable Eastman resins. These products provide certified recycled content and also provide brands the freedom of design.

The company will be offering its custom packaging creations in Eastman's new Cristal portfolio, including the Max Out series and Space Max collection. Through the FusionPKG BeautyLab, it will be able to create innovative solutions. FusionPKG also has plans to engage with brands to develop tailor-made packaging, using the full range of Cristal Renew’s product portfolio.

Cristal One adheres to the California/ASTM guidelines and has achieved APR Critical Guidance recognition for recyclability. More recognitions are under review and coming up its way.

Eastman noted that it is enthusiastic to work with FusionPKG as the latter’s state-of-the-art design aesthetics are the right solutions that the former was in search of to launch new products. The Cristal One portfolio brings the benefits of both recycled and recyclable, without compromising on the performance — a feature that innovative designing companies like FusionPKG largely value.

FusionPKG said that with Cristal One products, it can now offer a more sustainable solution that has room to create the crystal clear, high-end packaging that the company is renowned for.

Shares of Eastman have surged 70% in a year compared with the industry’s growth of 47.9%. The estimated earnings growth rate for the company for the current year is pegged at 40.8%.

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In the last-quarter earnings call, the company said that it is seeing continued momentum in the second quarter as it is gaining from innovation, strong market recovery and lower operating costs from its operations transformation program. It expects adjusted earnings per share between $8.25 and $8.75 for 2021. It also anticipates free cash flow to reach $1.1 billion this year.

Zacks Rank & Other Key Picks

Currently, Eastman carries a Zacks Rank #2 (Buy).

Some other top-ranked stocks in the basic materials space are Olin Corporation (OLN - Free Report) , Tronox Holdings PLC (TROX - Free Report) and Univar Solutions Inc. , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Olin has a projected earnings growth rate of 506.7% for the current year. The company’s shares have surged 278.7% in a year.

Tronox has a projected earnings growth rate of 242.9% for the current year. The company’s shares have seen a jump of 190.8% in a year.

Univar has a projected earnings growth rate of 35.2% for the current year. The company’s shares have grown 49% in a year.

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