Eastman CEO Mark Costa told CNBC's Jim Cramer on Tuesday the plastics company is trying to change 'the whole game' around recycling.
Eastman and P&G, which makes Tide laundry detergent and Dawn dish detergent, announced their tie-up last week, in which P&G will make some of its products and packaging using Eastman Renew materials.Costa said Eastman now has more than 20 brands engaged in its using "environmental technology" to improve way plastics are recycled.
"What we're doing ... is molecular recycling," Costa said, describing the process as a "more fundamental" one that can create an "infinite life" for the plastic. This process allows the quality of the now-recycled plastic to remain in tact, which is "incredibly important" for a company like P&G, said Costa, who has been CEO of Tennessee-based Eastman since 2014.been under the microscope in recent years
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