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PolyOne Expands Asian Operations Amid Strong Business Growth

October 3, 2002

CLEVELAND, Oct 3, 2002 /PRNewswire-FirstCall via COMTEX/ -- PolyOne Corporation
(NYSE: POL) announced today that it has embarked on a multi-phase expansion of
its rapidly growing Asian business. The Company already has initiated
improvements at its existing manufacturing facilities, and it has added a
customer support laboratory in southern China.

PolyOne is seeing brisk customer demand in the region, which is enjoying an
economic boom. For 2002, PolyOne projects growth of more than 30 percent in its
Asian business, which totaled approximately $50 million in 2001. The Company's
total capital investment in Asia will approximate $6 million in 2002.

PolyOne entered Asia in 1997, when it began manufacturing color concentrates in
the Pudong technology park area of Shanghai, China. Since then, the Company has
added compounding facilities for engineering polymers in Singapore and in
Suzhou, which is near Shanghai. PolyOne also has formed a majority-controlled
joint venture with color and additive concentrate producer Star Color in
Thailand. These activities testify to the importance of the region to PolyOne's
global growth strategy.

The first phase of the current expansion program is nearing completion:

  • Earlier this year, PolyOne opened a customer support laboratory and
    sales office in Shenzhen in southern China. The objective is to provide
    a speedier customer response on color matching and samples of color
    concentrate. The laboratory is equipped with two twin screw lines, and
    is staffed with experienced production and laboratory personnel who
    communicate with the Pudong manufacturing plant through data and video
    conference links. The two facilities work closely to expedite response.
    Samples of color formulations can be approved quickly because of
    proximity to customers, and then produced in Pudong.
  • In Suzhou, the first-stage expansion of the compounding facility is
    under way. The site produces a wide range of polymer compounds,
    including polyamide, flame-retardant polypropylene, and filled and/or
    colored polycarbonate or blends. Upgrades to existing lines and the
    addition of a new line will improve capacity and throughput, and equip
    Suzhou to manufacture a wider range of compounds, including
    thermoplastic elastomers (TPEs). The technical team in Suzhou already
    has successfully introduced the first PolyOne TPE produced in Asia.
  • In Shanghai, work at the Pudong plant was recently completed. The site
    has more space for additional lines, a new office area and expanded
    laboratory space, including a large, state-of-the-art training room.

    PolyOne is planning further Asian expansions, with new equipment to be added in
    programs stretching into 2003. The Company also is evaluating construction of
    new manufacturing facilities.

    "The demand in some regions is such that in the next 12 months, we need to
    expand in both South China and in ASEAN (Association of Southeast Asian
    Nations)," said James Yuann, general manager for PolyOne Asia. "With some of our
    facilities we will reach the limits of what we can do, and we must consider
    alternative buildings."

    About PolyOne

    PolyOne Corporation, with 2001 revenues of $2.7 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, Asia and Australia. Information on the Company's
    products and services can be found at www.polyone.com .

    Forward-Looking Statements

    In this 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, including, for example,
    statements about business outlook, assessment of market conditions, strategies,
    future plans, future sales, prices for major products, inventory levels, capital
    spending and tax rates. These forward-looking statements 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. Factors that could cause actual results to differ
    materially include, but are not limited to: (1) an inability to achieve or
    delays in achieving savings related to consolidation and restructuring programs;
    (2) delays in achieving or inability to achieve the Company's strategic value
    initiatives, including cost reduction and employee productivity goals, or
    achieving less than the anticipated financial benefit from the initiatives; (3)
    the effect on foreign operations of currency fluctuations, tariffs,
    nationalization, exchange controls, limitations on foreign investment in local
    businesses and other political, economic and regulatory risks; (4) changes in
    world, regional or U.S. plastic, rubber and PVC consumption growth rates
    affecting the Company's markets; (5) changes in global industry capacity or in
    the rate at which anticipated changes in industry capacity come online in the
    PVC, VCM, chlor- alkali or other industries in which the Company participates;
    (6) fluctuations in raw material prices, quality and supply and energy prices
    and supply, in particular fluctuations outside the normal range of industry
    cycles; (7) production outages or material costs associated with scheduled or
    unscheduled maintenance programs; (8) costs or difficulties and delays related
    to the operation of joint venture entities; (9) lack of day-to-day operating
    control, including procurement of raw material feedstocks, of other equity or
    joint venture affiliates; (10) partial control over investment decisions and
    dividend distribution policy of the OxyVinyls partnership and other minority
    equity holdings of the Company; (11) an inability to launch new products and/or
    services that strategically fit the Company's businesses; (12) the possibility
    of goodwill impairment; (13) an inability to maintain any required licenses or
    permits; and (14) an inability to comply with any environmental laws and
    regulations.

    SOURCE PolyOne Corporation

    CONTACT: U.S. Media & Investor, Dennis Cocco, Chief Investor &
    Communications Officer, +1-216-589-4018, or International Media, Siobhan
    Ahern, Marketing Assistant, International Plastic Compounds and Colors,
    +32-83-660-273, both of PolyOne Corporation

    URL: http://www.polyone.com

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