PolyOne has completed the previously-announced sale of its
vinyl dispersion, blending and suspension resin assets to
Mexichem for $250 million in cash, the companies announced on
PolyOne said it expects after-tax proceeds of
approximately $150 million and to recognize an after-tax gain
on sale of approximately $140 million.
The sale of PolyOne's last remaining resin production assets
marks an important milestone in the company's ongoing specialty
transformation that began in 2006, according to top
"This was a natural next step in the evolution of our
portfolio and ultimate vision for PolyOne," said Stephen D.
Newlin, CEO of PolyOne. "Now more than ever, we are
focused on our core business of specialty solutions and unique
formulations where we believe we can generate the most value
for our customers, associates and shareholders."
Assets transferred in the sale were strictly those related
to resin production and included manufacturing plants in
Pedricktown, New Jersey; Henry, Illinois; and a resin research
facility in Avon Lake, Ohio.
PolyOne continues to own and operate its Geon
performance materials and specialty coatings businesses, which
produce vinyl-based formulations, plastisols and powder
coatings marketed under the Geon brand name.