Specialized polymer materials, services and solutions
company PolyOne has agreed to sell its vinyl dispersion,
blending and suspension resin assets to Mexico-based Mexichem
for $250 million in cash, the companies said on Monday.
The sale is subject to satisfaction of regulatory requirements
and other customary closing conditions.
PolyOne's resin assets are part of its performance products
and solutions segment and generated revenues of $147 million in
"Since we began our specialty transformation, we have
divested commodity equity investments including oxy vinyls in
2007 and SunBelt in 2011 and reinvested the proceeds to
accelerate the growth of our specialty offerings," said Stephen
D. Newlin, CEO of PolyOne.
"As our only remaining business involved in the direct
manufacture of base resins, we view the sale of our resin
production assets as a natural and next step in the evolution
of our portfolio."