Eastman and Huafon Chemical to establish local cellulose acetate yarn manufacturing facility in China

KINGSPORT, Tennessee - Eastman (NYSE: EMN) today announced a formal strategic partnership with Huafon Chemical to establish a joint facility to produce cellulose acetate yarn. The facility will be dedicated to localized production and product innovation of Eastman Naia™ cellulose acetate filament yarns in China.

"China is the world's largest textile supply chain hub and a frontier for product and technology innovation," said Ruth Farrell, general manager of Eastman's Textiles business. "This strategic partnership will provide us with greater capacity and further enhance the innovation and product development capabilities of Naia™ yarn while enabling Eastman to fulfill its brand promise of making sustainable textiles accessible to all."

This collaboration demonstrates Eastman's long-term commitment to the Chinese market and further deepens its market presence in China by enabling a more agile supply chain response to meet the market demand for high-quality, innovative, and sustainable textile materials in the region.

"Through cooperation with Eastman, we look forward to combining local advantages with international resources to achieve a fully localized chain from technological innovation, product development, production to service, and jointly promoting the sustainable development of the textiles industry," said Congdeng Yang, director for Huafon-Eastman collaboration program.

About Eastman

Founded in 1920, Eastman is a global specialty materials company that produces a broad range of products found in items people use every day. With the purpose of enhancing the quality of life in a material way, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. The company's innovation-driven growth model takes advantage of world-class technology platforms, deep customer engagement, and differentiated application development to grow its leading positions in attractive end markets such as transportation, building and construction, and consumables. As a globally inclusive company, Eastman employs approximately 14,000 people around the world and serves customers in more than 100 countries. The company had 2024 revenue of approximately $9.4 billion and is headquartered in Kingsport, Tennessee, USA. For more information, visit https://www.eastman.com.

About Huafon Chemical

Founded in December 1999, Huafon Chemical Co.,Ltd. is a holding subsidiary of Huafon Group. The company has always focused on R&D, production and sales of spandex fiber, PU resin and adipic acid. The company's "Qianxi" brand spandex can cover the whole category of 10D-2500D. "Jufeng" PU resin series products are widely used in shoe making, automobile and other fields. "Huafon" adipic acid is mainly used in the production of PU resin series products. The company has overseas subsidiaries in South Korea, Turkey and Pakistan, and has two production bases in Zhejiang and Chongqing. ln 2006, the company successfully achieved A-share listing, becoming the first domestic listed private enterprise in Wenzhou and the first listed company mainly engaged in spandex business in China.