PolyOne’s Elastomers & Performance Additives Group to Open its First Rubber Compounding Plant in China
December 15, 2003
New facility will supply rubber compounds used in rollers, automotive parts and
CLEVELAND (December 16, 2003) – PolyOne Corporation (NYSE: POL) today announced
that its Elastomers & Performance Additives Group is building a new rubber
compounding facility near Shanghai, China.
PolyOne Elastomers & Performance Additives Shanghai, a wholly owned
subsidiary of PolyOne, will supply rubber compounds to current PolyOne
customers based in China for use in printing and industrial rollers, as well as
serve U.S.-based companies that are just beginning to manufacture automotive
parts and industrial products in China. The plant will also enable the
Elastomers & Performance Additives Group to begin serving new customers in
the rapidly growing Asian market.
The rubber compounding plant will process a variety of elastomers, including
natural rubber, fluoroelastomers, NBR, EPDM and SBR, and will initially include
two finishing lines and one calendering line. The new facility is being built
to allow for expansion in subsequent years, as part of a four-phase program to
enhance the Elastomers and Performance Additives Group's operations in Asia.
Production is scheduled to begin at the end of the first quarter of 2004.
“Asia is a dynamic market with a rapid growth rate,” said John Quinn, vice
president and general manager of Elastomers & Performance Additives. “Our
new rubber compounding plant in China is an important strategic step that
allows us to continue providing our U.S.-based customers with high-value
products as they establish operations in Asia, as well as develop relationships
with new and current Asian-based customers.”
The new manufacturing facility – PolyOne's sixth plant in Asia and fourth in
China – will complement the existing global capabilities of the Elastomers
& Performance Additives Group, which also has operations in the United
States, Mexico and the United Kingdom.
Steve Nieto, director of Specialty Products, and Clay Beauchamp, operations
manager, have been leading the project to develop the new plant. Before joining
PolyOne in 2001, Nieto spent 23 years with PPG Industries in general
management, sourcing, sales, planning and commercial development. Beauchamp led
the startup of PolyOne's Elastomers & Performance Additives operation in
the United Kingdom in 2002. Before that, he managed operations for Chase
Elastomer in Kennedale, Texas.
As announced on October 21, the Elastomers and Performance Additives Group is
one of three business units PolyOne is considering for divestment. PolyOne has
set no deadline for divesting these business units.
The Elastomers & Performance Additives group is a leading merchant provider
of customized, high-performance elastomer materials and additives to a variety
of industries for use in applications ranging from transportation (non-tire)
and printing to industrial and electrical. With headquarters in Solon, Ohio,
the group currently operates nine production facilities in the United States,
Mexico and the United Kingdom.
PolyOne Corporation (NYSE: POL), with 2002 revenues of $2.5 billion, is an
international polymer services company with operations in thermoplastic
compounds, specialty resins, specialty polymer formulations, engineered films,
color and additive systems, elastomer compounding, and thermoplastic resin
distribution. Headquartered in Cleveland, Ohio, PolyOne has employees at
manufacturing sites in North America, Europe, Asia, and Australia, and joint
ventures in North America, South America, Europe and Asia. Information on the
Company's products and services can be found at www.polyone.com.
To set up an interview with either Nieto or Beauchamp to discuss specific
implementation details, please contact Karin Haag at 216-241-4617 or
This press release contains forward-looking statements within the meaning of
the federal securities laws. As a general matter, forward-looking statements
relate to anticipated trends and expectations rather than historical matters.
Forward-looking statements are subject to uncertainties and factors relating to
the company's operations and business environment that are difficult to predict
and may be beyond the control of the company. Such uncertainties and factors
may cause actual results to differ materially from those expressed or implied
by forward-looking statements. Uncertainties and factors that could affect the
future performance of the company and cause results to differ from the
forward-looking statements in this press release are contained in the company's
latest annual report to its shareholders, which is available upon request.
Director, Specialty Products - Elastomers & Performance Additives
Dix & Eaton