The "other" Eastman

As Kodak struggles, Eastman Chemical thrives


George Eastman is best known as the inventor of photographic film and founder of Eastman Kodak Co, but his century-old legacy of entrepreneurship now rides on the lesser-known Eastman Chemical Co.

That was hardly the case in 1994, when Eastman Kodak spun off its chemicals business to help pay down debt. At that time, Kodak was still a colossus in photography whereas Eastman Chemical was a small player very much in its parent's shadow.

But because of a sea change in digital technology and different approaches to business, Eastman Chemical's stock market value has since increased 71 percent to $5.5 billion today, while Kodak's has plummeted 99 percent to about $185 million.

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