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Business Description
Eastman Chemical Company is a global chemical company engaged in the manufacture and sale of a portfolio of chemicals, plastics and fibers. The Company began business in 1920, for the purpose of producing chemicals for Eastman Kodak Company's photographic business. Eastman is a producer of polyethylene terephthalate (PET) polymers for packaging, and is a supplier of raw materials for paints and coatings, inks and graphic arts, adhesives, textile sizes and other formulated products. The Company also supplies cellulose acetate fibers. The Company's products and operations are managed and reported in five operating segments: Eastman Division, previously called the Chemicals Group, which contains the Coatings, Adhesives, Specialty Polymers and Inks (CASPI) segment; the Performance Chemicals and Intermediates (PCI) segment, and the Specialty Plastics (SP) segment. The Voridian Division (Voridian), previously called the Polymers Group, contains the Polymers segment and the Fibers segments.

Financial Information
EMN manufactures and sells polyester plastics such as polyethylene terephthalate (PET); coatings and paint raw materials; industrial and fine chemicals, and acetate tow. For the six months ended 6/30/02, revenues fell 4% to $2.63 billion. Net income before acct. change totaled $68 million vs. a loss of $110 million. Revenues reflect lower selling prices. Net income reflects the absence of a $294 million asset impairments and restructuring charge.