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PolyOne Realigns Polymer Coating Systems Business

Published on 2008-01-10. Author : SpecialChem

CLEVELAND -- PolyOne Corporation, a leading global provider of specialized polymer materials, services and solutions, has reorganized its Polymer Coating Systems (PCS) into two business units.

The Wilflex inks and specialty colorants businesses and the BayOne equity investment will be combined into a new operating segment named Specialty Inks and Polymer Systems. Scott Craig, who recently joined PolyOne from Cookson Electronics' Semiconductor Packaging Materials business, will be the general manager of this new operating segment.

The remaining PCS businesses, plastisols and coated fabrics, will be integrated with the Vinyl Business segment and combined with the Specialty Resins business to form Specialty Resins and Coatings. Dan Kickel, who had served as vice president and general manager of PCS, will become vice president and general manager of this new business unit.

"This realignment gives us the ability to better serve our customers," said Stephen D. Newlin, chairman, president and chief executive officer. "We will more effectively and efficiently focus our resources with the needs of our customers and the marketplace."

The number of PolyOne's reportable segments remains at four: Vinyl Business, International Color and Engineered Materials, PolyOne Distribution, and Resin and Intermediates. All Other will now include North American Engineered Materials, North American Color and Additives, Producer Services, and Specialty Inks and Polymer Systems. Historical segment data will be recast for this reorganization in PolyOne's 10K filing for the fiscal year ending December 31, 2007.

About PolyOne

PolyOne Corporation, with 2006 annual revenues of $2.6 billion, is a leading global provider of specialized polymer materials, services and solutions. Headquartered in northeast Ohio, PolyOne has operations in North America, South America, Europe, Asia and Australia, and joint ventures in North America and South America.

Forward-looking Statements

In this press release, statements that are not reported financial results or other historical information are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward- looking statements give current expectations or forecasts of future events and are not guarantees of future performance. They are based on management's expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. You can identify these statements by the fact that they do not relate strictly to historic or current facts. They use words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms of similar meaning in connection with any discussion of future operating or financial performance and/or sales. In particular, these include statements relating to future actions including the impact of our reorganization and future performance. Factors that could cause actual results to differ materially include, but are not limited to: our ability to successfully implement the reorganization and our specialization strategy.

We cannot guarantee that any forward-looking statement will be realized, although we believe we have been prudent in our plans and assumptions. Achievement of future results is subject to risks, uncertainties and inaccurate assumptions. Should known or unknown risks or uncertainties materialize, or should underlying assumptions prove inaccurate, actual results could vary materially from those anticipated, estimated or projected. Investors should bear this in mind as they consider forward-looking statements.

We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our reports on Form 10-Q, 8-K and 10-K that we provide to the Securities and Exchange Commission. You should understand that it is not possible to predict or identify all risk factors. Consequently, you should not consider any list to be a complete set of all potential risks or uncertainties.

Source: PolyOne


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