PolyOne to close six plants acquired in Spartech purchase

Plastics compounder PolyOne has announced plans to begin closing six facilities obtained in the March 2013 acquisition of color and additives maker Spartech Corporation.

Avon Lake, Ohio-based PolyOne aims to complete the shut downs by the end of 2014 for annual savings of US$25 million, the company said in a news release. PolyOne plans to relocate production of the six sites to other PolyOne facilities.

All of the affected plants are in North America, but the news release did not mention the locations and product mix of the plants to be closed.

“These actions are entirely consistent with our previously announced plans to integrate PolyOne and Spartech and to accelerate our specialty transformation,” PolyOne chairman, president and CEO Stephen Newlin said in the release. “By combining our resources, we expect to better serve our customers with a more competitive cost structure, improved product quality and on-time delivery with increasingly innovative technologies.”

PolyOne paid US$393 million forClayton, Mo.-based Spartech.