KINGSPORT, Tenn. (AP) - Eastman Chemical Co. unveiled plans Friday to build a sweeping plastic-to-plastic recycling facility at its headquarters in northeastern Tennessee.
Company officials say the chemical and plastics manufacturer will invest roughly $250 million in the new facility over the next two years.
In a news release, the company promised to recycle more than 250 million pounds of plastic waste annually by 2025. According to a news release, Eastman will use “polyester renewal technology” known as as “methanolysis” to convert polyester waste into other products.
Eastman officials say this type of recycling is important because not all polyester waste can be mechanically recycled and would typically need to be diverted to landfills.
“With the growing demand for products made with recycled content and the urgent need to address the global plastic waste crisis, now is the time for Eastman to take this step,” Eastman CEO and board chairman Mark Costa said in a statement.
Eastman makes chemicals, fibers and plastics for a variety of uses in consumer products, including protective coatings and films used in decorative packaging, according to its website. The company spun off from Eastman Kodak and became an independent corporation in the 1990s.
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