PolyOne Corporation a premier global provider of specialized polymer materials, services and solutions, announced a realignment of its manufacturing assets in Brazil. As part of the realignment, PolyOne will close manufacturing plants located in Diadema and Joinville, Brazil. The company will continue to operate and invest in its facilities in Novo Hamburgo and Itupeva, Brazil, while offering specialty solutions throughout the region.
PolyOne Corporation a premier global provider of specialized polymer materials, services and solutions, announced a realignment of its manufacturing #
"This asset realignment will accelerate our specialty strategy in Brazil, streamline our operations, and improve our financial performance in the region," said Robert M. Patterson, president and chief executive officer, PolyOne Corporation. "Further, these actions will increase our focus on specialty solutions for customers, consistent with current and future market trends in this important and strategic market."
PolyOne Corporation a premier global provider of specialized polymer materials, services and solutions, announced a realignment of its manufacturing #
The company expects to incur cash costs of approximately $5 million associated with these actions and non-cash charges of $12 million primarily associated with accelerated depreciation and asset impairments. PolyOne will provide additional detail and discussion on the strategic realignment during its Q2 2014 earnings call on July 22, 2014.
PolyOne Corporation a premier global provider of specialized polymer materials, services and solutions, announced a realignment of its manufacturing #
About PolyOne
PolyOne Corporation, with 2013 revenues of $3.8 billion, is a premier provider of specialized polymer materials, services and solutions. The company is dedicated to serving customers in diverse industries around the globe, by creating value through collaboration, innovation and an unwavering commitment to excellence. Guided by its Core Values, Sustainability Promise and No Surprises PledgeSM, PolyOne is committed to its customers, employees, communities and shareholders through ethical, sustainable and fiscally responsible principles.
PolyOne Corporation a premier global provider of specialized polymer materials, services and solutions, announced a realignment of its manufacturing #
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