RTTNews | Jan 17, 2022 03:24AM EST

03:23 Monday, January 17, 2022 (RTTNews.com) - Eastman (EMN) said the company plans to invest up to $1 billion in a material-to-material molecular recycling facility in France. This facility would use the company's polyester renewal technology to recycle up to 160,000 metric tonnes annually of hard-to-recycle plastic waste that is currently being incinerated. Eastman also plans to establish an innovation center for molecular recycling. The company expects the plant and innovation center to be operational by 2025, creating employment for approximately 350 people and leading to an additional 1,500 indirect jobs.

"The plan to build the world's largest plastics recycling facility in France is an important part of our overall circular economy strategy," said Eastman Board Chair and CEO Mark Costa.

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