Plastics industry reports positive second quarter numbers and expansion

Despite growing regulations in several areas of the country concerning plastic bags and retail products, the plastics industry has reported growth and expansion in several areas of the country.

Eastman Chemical Company, based out of Kingsport, Tennessee, reported positive second quarter earnings, as the specialty plastics segment saw sales rise more than 23 percent for the fiscal period, according to The Wall Street Journal.

Further expansion of the company's plastics business and operations into the Asian markets may contribute further to the future quarterly earnings, as this may mean a rise in hirings in America to support the overseas production, the news source reported.

Another U.S. plastics company reported positive second quarter numbers along with plans for expansion, as Formosa Plastics announced plans for expansion into a production plant in Texas, according to Taiwan Economic News.

Though the company is based abroad, it has been expanding its base of operations in the U.S., as new facilities in several parts of the country have added new employees and buildings, reported the news source.