Chemical industry information provider ICIS named Eastman Chemical the “Chemical Company of the Year” based on the company's 2013 financial performance. Eastman, producer of chemicals, fibers and plastics, outperformed the world’s major chemical producers in a difficult business environment, according to analysis by ICIS. The analysis examined margin performance and year-on-year growth in a number of financial categories. The ICIS Top 10 also included Celanese, Albemarle, Merck KGaA, Westlake Chemical, Ashland, Dow Chemical, IFF, PolyONe and PPG Industires.
Eastman produced double-digit earnings per share (EPS) growth for the fourth year in a row, according to ICIS. It generated an operating margin of 17 percent. Eastman acquired specialty films producer Solutia in July 2013 and announced the acquisition of global amines producer Taminco this month, which could portend additional growth.