PolyOne to sell some business operations

PolyOne Corporation has announced plans to divest three business units in order to focus on its core global compounding and masterbatch business. The business units being offered for sale include Elastomers and Performance Additives, Engineered Films and Specialty Resins. PolyOne has set no deadline for divesting the three operations, which contributed $617 million to the company’s total sales of $2.5 billion in 2002. The units contributed approximately $12 million in 2002 operating income and employ over 2,200 people.
"Our Plastics Compounding, Color and Distribution operations have strong market positions and unique linkages with customers and suppliers," said Thomas Waltermire, PolyOne chairman and CEO.
After divestiture, PolyOne’s business operations would consist of Plastics Compounding (44% of 2002 sales), Color and Additive Masterbatch (13% of 2002 sales) and Distribution (20% of 2002 sales).