Navigation Links
PolyOne Announces Sale of SunBelt Investment
Date:2/28/2011

CLEVELAND, Feb. 28, 2011 /PRNewswire-FirstCall/ -- PolyOne Corporation (NYSE: POL) announced today the sale of its 50% ownership interest in SunBelt Chlor Alkali Partnership to Olin Corporation.  

SunBelt, a chlor alkali manufacturer, is a 50/50 joint venture formed in 1996 between PolyOne (formerly The Geon Company) and Olin. PolyOne's stake in SunBelt was sold to Olin for $175 million, including $132 million in cash and the assumption of PolyOne's guarantee of $43 million of SunBelt debt, with an additional earn out over the next three years if certain performance metrics are achieved.

"I am pleased with the completion of this strategic win / win transaction for both Olin and PolyOne," said Stephen D. Newlin, chairman, president and chief executive officer of PolyOne.  "I would like to thank Olin for the many years of cooperative partnership we have enjoyed together and wish them well as they integrate SunBelt into their operations."  Newlin added, "For PolyOne, the sale of SunBelt represents another step in our transformation and portfolio repositioning as we intend to use the proceeds to accelerate specialty platform growth."    

About PolyOne

PolyOne Corporation, with 2010 revenues of $2.6 billion, is a premier provider of specialized polymer materials, services and solutions. Headquartered outside of Cleveland, Ohio USA, PolyOne has operations around the world. For additional information on PolyOne, visit our Web site at www.polyone.com.

To access PolyOne's news library online, please visit www.polyone.com/news

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.  They use words such as "will," "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 condition, performance and/or sales.  Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to: disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability and cost of credit in the future; the financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with inadequate liquidity) to maintain their credit availability; the speed and extent of an economic recovery, including the recovery of the housing and chlor-alkali markets; our ability to achieve new business gains; the effect on foreign operations of currency fluctuations, tariffs, and other political, economic and regulatory risks; changes in polymer consumption growth rates where we conduct business; changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online; fluctuations in raw material prices, quality and supply and in energy prices and supply; production outages or material costs associated with scheduled or unscheduled maintenance programs; unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters; an inability to achieve or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to working capital reductions, cost reductions, employee productivity goals and our new global organization structure; an inability to raise or sustain prices for products or services; an inability to maintain appropriate relations with unions and employees; the inability to achieve expected results from our acquisition activities; and other factors affecting our business beyond our control, including, without limitation, changes in the general economy, changes in interest rates and changes in the rate of inflation.  The above list of factors is not exhaustive.

We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.  You are advised 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.


'/>"/>
SOURCE PolyOne Corporation
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. PolyOne GLS Selected as Healthcare Industry Marketing Specialist for Santoprene™ TPV Medical Grades
2. Dendreon Announces Publication of Phase 1 Study Highlighting Immunologic and Clinical Activity of Lapuleucel-T (Neuvenge(R)) in Advanced Breast Cancer Patients
3. EDAP Announces Launch of Clinical Study Combining HIFU and Chemotherapy for Localized Aggressive High Risk Prostate Cancer
4. Cephalon Announces Positive Results from a Pivotal Study of FENTORA in Opioid-tolerant Patients with Non-cancer Breakthrough Pain
5. ADVENTRX Announces Fast Track Designation Granted By the FDA For CoFactor For the Treatment of Metastatic Colorectal Cancer
6. DOV Pharmaceutical, Inc. Announces Successful Phase Ib Results for DOV 21,947
7. Phosphagenics Announces Positive Phase 1b Transdermal Insulin Clinical Trial Results
8. Xenomics Announces Implementation of its First Diagnostic Test for Acute Myeloid Leukemia Into Clinical Practice
9. Emisphere Technologies, Inc. Announces 2007 Second Quarter Financial Results
10. Amicus Therapeutics Announces Second Quarter 2007 Financial Results
11. Genta Incorporated Announces Second Quarter 2007 Financial Results and Corporate Highlights
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/2/2016)... 2016 According to a ... by Product (Instruments, Reagents, Software), Technology (Immunoassay, Clinical ... Nephrology, Infectious Diseases) - Forecast to 2021" published ... USD 60.22 Billion in 2016. This market is ... during the forecast period (2016-2021) to reach USD ...
(Date:12/2/2016)... In the first ever attempt to include ... from C. sativa, the Hebrew University in Jerusalem, the ... II , the Universita` del Piemonte Orientale and Phytoplant ... and unified inventory of phytocannabinoids of different botanical origin. ... remarkable chemical and structural diversity of phytocannabinoids. As a ...
(Date:12/2/2016)... , Dec. 2, 2016  Eli Lilly and ... financial guidance for 2017 and provide updated financial guidance ... also conduct a conference call on that day with ... company,s financial guidance. The conference call will ... general public can access a live webcast of the ...
Breaking Medicine Technology:
(Date:11/30/2016)... ... November 30, 2016 , ... Standard ... 75, an annual ranking and recognition of the largest closely held companies headquartered ... ranked from 2008-2016. In addition, Standard Process was awarded the Talent Award for ...
(Date:11/30/2016)... ... November 30, 2016 , ... Center For ... announced the opening of a new residential mental health treatment program in Chino ... issues such as severe anxiety, depression, bi-polar disorder, and other related issues. , ...
(Date:11/30/2016)... ... 30, 2016 , ... The Cronovo Smartwatch, the first on ... consumers at an affordable price, is now available on the crowdfunding website ... game changer” when it comes to the smartwatch. , "With Cronovo, we’ve combined ...
(Date:11/30/2016)... ... 2016 , ... The Valley’s leading orthopedic practice, OrthoArizona - ... North Phoenix and Chandler locations. , The new North Phoenix location is located ... 3rd St, Suite 300 in Phoenix. The practice’s new Chandler location is conveniently ...
(Date:11/30/2016)... ... November 30, 2016 , ... BrightStar Care of Wellington , a ... was recently named the 2016 Provider and Employer of Choice by Home Care Pulse. ... scores, and only providers with the highest quality receive the Best of Home Care ...
Breaking Medicine News(10 mins):