PolyOne plans to shut Quebec facility
An engineered materials facility in Valleyfield, Que. is one of the eight production plants that will be closed by ...
An engineered materials facility in Valleyfield, Que. is one of the eight production plants that will be closed by Avon Lake-based PolyOne Corporation in the upcoming months.
Last week, the company announced that the closures would take place over the next nine months, as a result of downturns in compounding end markets. Seven of the eight plants are located in North America, and the company will shed nearly 150 jobs as a result of the downsizing.
The company, which also cited rising raw material costs, said that the production would be moved into PolyOne’s other facilities.
“After conducting a thorough review of our entire operation, our business teams identified opportunities to further align our capacity and production assets to improve the effectiveness of our global manufacturing footprint,” said the company’s senior vice president of operations and supply chain Thomas Kedrowski.
PolyOne will recognize a one-time charge of nearly US$31 million in relation to the closings.
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