Occidental Chemical Corporation (OxyChem) is a leading North American manufacturer of polyvinyl chloride (PVC) resins, chlorine and caustic soda – key building blocks for a variety of indispensable products such as plastics, pharmaceuticals and water treatment chemicals. Other OxyChem products include caustic potash, chlorinated organics, sodium silicates, chlorinated isocyanurates and calcium chloride. For every product it makes, OxyChem’s market position is No. 1 or No. 2 in the U.S. and No. 1, 2 or 3 in the world. Based in Dallas, Texas, the company has manufacturing facilities in the United States, Canada, Chile and Brazil.
OxyChem, Oxy Vinyls, LP and INDSPEC Chemical Corporation are wholly owned subsidiaries of Occidental Petroleum Corporation. Armand Products Company, a joint venture between OxyChem and Church & Dwight Co., Inc., sells potassium carbonate and potassium bicarbonate. Carbocloro S.A. Indústrias Químicas, a joint venture between OxyChem and UNIPAR, manufactures and sells chlor-alkali and other products in Brazil.
Oxy Vinyls, LP (OxyVinyls)
manufactures polyvinyl chloride (PVC) resins, vinyl chloride monomer (VCM) and
its precursor ethylene dichloride (EDC).
OxyVinyls is the world’s largest VCM producer and third-largest PVC producer, and the second-largest PVC supplier in North America.
PolyoneはGeon (旧Goodrich)から引き継いだ塩ビ樹脂事業をOccidental Chemical と統合し、Oxy Vinyls, LP とした。
出資比率はOxyChem 76% /PolyOne 24%。
→ PolyOne sells Oxy Vinyls stake to Occidental for $261 mln Oxy 100%
In 2007, Occidental sold all of its remaining shares of Lyondell common stock.
OxyChem is the
second-largest merchant marketer in the world of both
chlorine and its co‑product caustic soda.
OxyChem is the world’s largest producer of caustic potash (potassium hydroxide). The company also is the world's largest producer of calcium chloride.
Other products manufactured by OxyChem have an array of key applications. Chlorinated organics serve as intermediates to make refrigerants, among many other applications. Sodium silicates serve a wide range of end-use markets, including silica products, catalysts, soaps and detergents, paper products, paint and pigments, among many others. Chlorinated isocyanurates are sanitizers for residential swimming pools and spas. OxyChem is the largest North American and only U.S. producer of sodium chlorite, which is used extensively in the water treatment industry for disinfection and purification.
INDSPEC Chemical Corporation is one of the world’s largest producers, and North America’s only producer, of resorcinol.
1988年初めに英国のBeazer East がKoppersを買収した際、Petrolia工場と近くの研究センターがMBOで独立、INDOSPECとなる。
2013/2/6 the plastics exchange.com
Occidental Petroleum Corp applied to build an
ethylene plant in Texas
Occidental Petroleum Corp. applied to build an ethylene plant in Texas, the latest company to propose new capacity for the region as booming shale gas supplies cut costs for U.S. chemical makers.
The plant in Ingleside near Corpus Christi would have the capacity to produce 1.2 billion pounds（545千トン）a year of ethylene, Los Angeles-based Occidental said in an application to the U.S. Environmental Protection Agency. Construction would start in December 2014 with production beginning in February 2017, according to the application on the EPAs website. The plant would create 123 jobs.
Occidental, the largest onshore crude-oil producer in the continental U.S., is also the world's biggest maker of vinyl chloride. It plans to use some of the ethylene from the Ingleside project to make vinyl chloride monomer, an ingredient in vinyl products, at an existing plant nearby. Vinyl is used in items such as PVC pipe and vinyl siding.
Dow Chemical Co. and Chevron Phillips
Chemical Co. are among other chemical producers who have proposed plants to make
ethylene from natural gas liquids such as ethane, the price of which hit a
multiyear low last month. Hydraulic fracturing, also known as fracking, has
increased supplies of NGLs, which are converted to ethylene used in plastics,
antifreeze and hundreds of other applications.
Melissa Schoeb, an Occidental spokeswoman, didn't immediately respond to a request for additional details of the proposed plant.
OxyChem will construct and operate a new 1.2 billion pound per year ethylene plant at its existing vcm plant. The new ethylene plant will receive ethane feed fro a planned Natural Gas Liquids fractionation plant to be constructed on adjacent property or by pipeline. The ethylene plant will produce market grade ethylene which will be transported by pipeline as feed material to the existing vcm plant or to other markets.
2011/12/29 Chevron Phillips Chemical、シェールガス利用で大規模石化計画
2005/1 Occidental Closes a vinyl resins plant in Pottstown, Pa.
PolyOne Completes Sale of Elastomers & Performance Additives Business
PolyOne to Acquire Vinyl Compounder in China
PolyOne Completes Acquisition of Ngai Hing PlastChem
PolyOne Sells Interest in Oxy Vinyls, LP for $261 Million
PolyOne to Acquire TPE Custom Solutions Provider GLS Corporation
PolyOne Corporation Announces an Exclusive License Agreement with Battelle for Bio-Plasticizer Technology
PolyOne Acquisition of
Spartech Approved By Shareholders
PolyOne Reaches Agreement to Sell Non-Core Resin Assets for $250 Million
PolyOne and Joint Venture Partner Juffali Open Specialty Colorant Facility in Jeddah, Saudi Arabia
PolyOne は1993年にGoodrich から塩ビ部門が独立したGeon とコンパウンド会社 M.A. Hanna が2000年に合併してできた塩ビコンパウンドや着色剤のメーカーで、PolyOne設立前の1999年に Occidental Chemical とGeon はそれぞれのVCM/PVC部門を分離して76%/24%のJVのOxy Vinyls を設立している。
PolyOneは2003年10月に、将来のコア事業はグローバルな樹脂コンパウンドとマスターバッチ事業であるとし、これに入らないゴムコンパウンド等の事業をLion Chemical Capital とACI Capital に売却した。（同部門はその後、Excel Polymersとなった。）
同社は昨年、specialization、globalization、operational excellence、commercial excellence の４つのキーワードに基づく変身を宣言している。
globalization については、同社は上海、深セン、蘇州に製造子会社を持っているが、昨年10月に東莞に工場をもつNgai Hing PlastChem Companyの事業を買収している。
今回のOxy Vinyls の持分（24%）の売却額は261百万ドルで、同社はこれを借入金の返済に充てる。
また、これに合わせて、OxyChemとのPVCパウダーコンパウンドJVの「PVC Powder Blends, LP」 のOxyChem 持分（10%）を購入し、PolyOne 100%とした。
About OxyVinyls 変遷図
Oxy Vinyls, LP ("OxyVinyls"), is a joint venture company between Occidental Chemical Corporation ("OxyChem") and The PolyOne Corporation ("PolyOne"), formerly The Geon Company, with assets which encompass PVC resin, vinyl chloride monomer, chlor-alkali (sodium hydroxide, chlorine and hydrogen) and cogeneration of electricity.
オキシデンタル・ケミカル・コーポレーション（Ｏｃｃｉｄｅｎｔａｌ Ｃｈｅｍｉｃａｌ Ｃｏｒｐｏｒａｔｉｏｎ）
2004/10 Vulcan Materials to Sell Chemicals Business to a subsidiary of Occidental Chem
OXYVINYLS PRODUCTION CAPACITY
|PVC Suspension Resins||2,100 MM Lbs.|
|PVC Suspension Resins||560 MM Lbs.|
|Vinyl Chloride Monomer||1,200 MM Lbs.|
|Vinyl Chloride Monomer||2,400 MM Lbs.|
|Louisville, Kentucky||PVC Suspension Resins||650 MM Lbs.|
|Pedricktown, New Jersey||PVC Suspension Resins||350 MM Lbs.|
|Niagara Falls, Ontario||PVC Suspension Resins||590 MM Lbs.|
|Scotford, Alberta||PVC Mass Resins||340 MM Lbs.|
|Ingleside, Texas (OxyMar JV)*||Vinyl Chloride Monomer||2,100 MM Lbs.||* Oxy Vinyls, LP owns 50% of OxyMar.|
|Advantages||All major raw materials received by pipeline. Adjacent to OxyChem's Chlor-Alkali plant. Access to the deep water port of Corpus Christi, Texas.|
|Site Size:||Located on 71 acres.|
|History:||The OxyMar plant began
operations in December 1990 as a joint venture between
OxyChem and The Marubeni Corporation of Japan. An expansion was
completed in June 1997, which increased the VCM
production capacity to 2.1 billion pounds per year. The
plant currently is a joint venture between Oxy Vinyls, LP
and The Marubeni Corporation.
OxyMar was formed in 1990 as a 50/50 joint venture between Occidental Chemical Corporation (OxyChem) and Japan's Marubeni Corporation. In 2004, Marubeni's remaining interest was purchased by OxyChem and, OxyMar is now a 50/50 venture between OxyVinyls and OxyChem.
The OxyMar plant, adjacent to Occidental Chemical Corporation's (OxyChem) chlor-alkali plant, has access to the deep water port of Corpus Christi, Texas and produces chlorine and VCM.
|Key Products:||Vinyl Chloride Monomer|
Occidental Chemical Corporation (OxyChem), together with its subdivisions and affiliates, is one of the world's largest chemical producers. Headquartered in Dallas, Texas, OxyChem operates 38 manufacturing facilities worldwide. OxyChem's principal products are commodity chemicals such as chlorine and caustic soda, vinyl chloride monomer (VCM), ethylene dichloride, polyvinyl chloride (PVC), petrochemicals and polymers and plastics that are produced and sold in large volumes, primarily to industrial customers for use as raw materials. OxyChem also produces smaller volume specialty chemical products that enjoy a particular market niche.
PolyOnes Geon & M.A. Hanna (2000/9/1)
M.A. Hanna, Geon To Unite As
The Geon Company and M.A. Hanna Company jointly announced today that the new company they plan to form as a result of their previously announced consolidation will be named PolyOne Corporation.
PolyOnes global operations encompass manufacturing centers and joint ventures around the world. As the world’s largest polymer services company, our products include:
Screen Printing Inks
Specialty Vinyl Resins
Thermoplastic Colors & Additives
Thermoplastic Elastomer Compounds
Vinyl Plastisols & Powders
focus：global Plastics Compounding and Color & Additive Masterbatch businesses
divestment：Elastomers and Performance Additives, Engineered Films and Specialty Resins
February 18, 1993 New York Times
NEWS; GOODRICH PLANS STOCK OFFERING FOR GEON VINYL
PolyOne to Sharpen Business Focus
As Next Step in Transformation Plan
Company's strategic emphasis to be Plastics Compounding, Color and Distribution
Three non-core business operations will be considered for sale
Actions intended to clarify mission and reduce debt
PolyOne Corporation, a leading
global polymer services company, announced today that its future focus will be
on its global Plastics Compounding and Color & Additive
Masterbatch businesses, and
its Distribution business, the units with the strongest market
synergies and potential for success. PolyOne is taking this step
as part of its drive to improve profitability and strengthen its
PolyOne's other business operations -- Elastomers and Performance Additives, Engineered Films and Specialty Resins -- are being considered for divestment. The Company has set no deadline for divesting these business operations, which in 2002 had $617 million of PolyOne's $2.5 billion in annual sales and contributed $12 million in operating income before special items. The businesses employ approximately 2,270 people.
PolyOne Completes Sale of Elastomers & Performance Additives Business
PolyOne Corporation announced today that it has completed the sale of its Elastomers and Performance Additives business to an entity formed by an investor group led by Lion Chemical Capital LLC and ACI Capital Co., Inc. The parties reported in June that they had reached a definitive agreement.
PolyOne announced last October that, as part of its efforts to improve profitability and strengthen its balance sheet, it would divest its Elastomers and Performance Additives, Engineered Films and Specialty Resins businesses.
Rubber World 2004/8/9
Former PolyOne Corp. Named Excel Polymers
Lion Chemical Capital LLC and ACI Capital Co. has announced that the former PolyOne Elastomers and Performance Additives Group will be named Excel Polymers. The sale from PolyOne was completed on
August 5, 2004.
Pete De Leeuw, managing director of Lion Chemical and designated chairman of the new company, stated, "We believe this name captures the essence of the premier organization we intend to create." He added, "Inclusion of the term polymers in the name underscores the point that Excel's goal is to become a full-service polymer systems company."
DSM sells styrene-butadiene rubber business to Lion Chemical Capital LLC
PolyOne to Acquire Vinyl Compounder in China
PolyOne Corporation announced today that it has signed a definitive agreement to acquire the assets and operations of Ngai Hing PlastChem Company Ltd. This business is the vinyl compounding subsidiary of Ngai Hing Hong Company Limited (毅興行有限公司). The current shareholders of Ngai Hing Hong, which is headquartered in Hong Kong, will retain a 5 percent interest in a new company that PolyOne will establish to conduct vinyl compound business in Asia.
Included in the transaction is the transfer of a manufacturing facility in Dongguan 東莞, a city in the Guangdong province of South China. This plant will be PolyOne's fourth manufacturing site in China; the others make products for its Engineered Materials, Color and Additives, and Polymer Coating Systems businesses.
・PolyOne Shanghai China
・PolyOne Shenzhen Co. Ltd.
・PolyOne Suzhou China
Ngai Hing Hong Company Limited http://www.nhh.com.hk/
Ngai Hing Hong Company Limited, a plastics resin corporation, was established in 1993 and has been listed on The Stock Exchange of Hong Kong since April 1994. Ngai Hing Hong Company Limited has core businesses in trading and manufacturing of pigment blends, color masterbatches and compounding services.
Jan 11, 2008 PolyOne
PolyOne Completes Acquisition of Ngai Hing PlastChem
Acquisition enhances globalization strategy
PolyOne Corporation, a leading global provider of specialized polymer materials, services and solutions, announced today that it has completed its previously announced acquisition of the assets and operations of Ngai Hing PlastChem Company Ltd., the vinyl compounding subsidiary of Ngai Hing Hong Company Limited. A subsidiary of Ngai Hing Hong will hold a 5% interest in the new company that PolyOne will establish to conduct its vinyl compound business in Asia.
This acquisition expands PolyOne's geographic footprint and is further testament to the company's globalization emphasis, one of the four key components of PolyOne's overall corporate strategy. Globalization moves PolyOne into high-growth markets where its customers are migrating, and positions the company to serve them with consistency everywhere in the world.
"The acquisition of Ngai Hing PlastChem Company creates further opportunities for us in Asia, in line with our globalization strategy," said Robert M. Rosenau, senior vice president and general manager - Vinyl Business. "We look forward to accelerating our global growth and delivering the value our customers expect from PolyOne."
Included in the transaction is the transfer of a manufacturing facility in Dongguan, a city in the Guangdong province of southern China. This plant will be PolyOne's fourth manufacturing site in China; the other three make a broad array of specialty products for the business equipment, electrical, packaging and textile printing markets.
October 12, 2004 Vulcan
Vulcan to Sell Chemicals Business
Vulcan Materials Company (NYSE:VMC) announced today that it has reached an agreement to sell the assets of its chemicals business, known as Vulcan Chemicals, to Basic Chemical Company, LLC, a subsidiary of Occidental Chemical Corporation. The consideration to be received by Vulcan for the business consists of cash, contingent future payments under two earnouts, and the assumption of certain liabilities by the purchaser. The assets of Vulcan Chemicals consist of chloralkali plants in Wichita, Kansas, Geismar, Louisiana and Port Edwards, Wisconsin. The sale also includes the assets of Vulcan Chemicals' joint venture located in Geismar.
A leading US producer of chloralkali chemicals including chlorine, sodium hydroxide (caustic soda), hydrochloric acid, potassium hydroxide (caustic potash / KOH), potassium carbonate, sodium chlorite, and chlorinated organic chemicals.
North America's largest producer of sodium chlorite and perchloroethylene.
A division of Vulcan Materials Company (NYSE:VMC), the nation's largest producer of construction aggregates.
A leading chemicals business with headquarters in Birmingham, AL.
Products and Annual Capacities (Tons Per Year)
Chlorine ： 820,000 Caustic Soda 859,000 (dry short tons) Hydrochloric Acid 230,000 (as HCl) Potassium Hydroxide 80,000 (dry short tons) Potassium Carbonate 25,000 Methyl Chloride 80,000 Methylene Chloride 65,000 Chloroform 160,000 Carbon Tetrachloride 65,000 Perchloroethylene 74,000 Ethylene Dichloride 300,000 1,1,1 Trichloroethane 80,000 Pentachlorophenol Sodium Chlorite N/A
January 5, 2005 LA Times
Occidental Closes a Chemical
Occidental Petroleum Corp., the fourth-biggest U.S. oil and natural-gas producer, said Wednesday that it shut down its vinyl resins factory in Pottstown, Pa., which employed 200 people. The closing reduced fourth-quarter pretax profit by about $53 million.
PolyOne to Sell Engineered Films Unit
(NYSE: POL), a leading global polymer compounding and North
American distribution company, has signed a letter of intent to
sell its Engineered Films business unit to an investor group comprising members of the
unit's management team along with an investor group
formed by Matrix Capital Markets.
The Engineered Films unit is a leading provider of customized, high- performance plastic films for use in diverse applications, including automobile and truck interiors, flooring, wall covering and pool liners.
PolyOne announced in late 2003 that it would divest its Elastomers and Performance Additives, Engineered Films and Specialty Resins businesses. As a result, the Company began reporting these business units as discontinued operations in the fourth quarter of 2003. PolyOne sold its Elastomers business in August 2004.
PolyOne Sells Interest in Oxy Vinyls, LP for $261 Million
- Cash proceeds will be deployed to reduce debt, strengthen financial profile and lower interest expense
- PolyOne retains existing supply agreements with OxyVinyls
- Exit of commodity business will significantly decrease earnings volatility
- PolyOne acquires remaining 10 percent interest in powder compounding operations
- Actions reinforce Company's commitment to its vision and strategy
PolyOne Corporation, a leading global provider of specialized polymer materials, services and solutions, announced today that it has sold its 24 percent interest in Oxy Vinyls, LP to Occidental Chemical Corporation, a wholly owned subsidiary of Occidental Petroleum Corporation.
PolyOne will retain the existing polyvinyl chloride (PVC) resin and vinyl chloride monomer (VCM) supply agreements that it entered into when OxyVinyls was formed. The terms of the supply agreements, including extensions, run through 2024. These agreements ensure consistent, cost-effective raw material supplies that will enable PolyOne to maintain its competitiveness and pursue its strategy of providing value-creating material and service solutions to its customers.
In a related transaction, the Company will acquire OxyChem's 10 percent interest in PVC Powder Blends, LP for $11 million, which will bring PolyOne's ownership of this PVC compounding operation to 100 percent.
PolyOne announced in the fourth quarter of 2006 that it had embarked upon a transformational strategy based on four key components: specialization, which shifts the basis of competition to differentiation from cost/commodity, and provides customers with high value-added solutions; globalization, which positions the Company to benefit from its extensive geographic reach; operational excellence, which strengthens PolyOne's capabilities to answer the voice of the customer by enhancing productivity, profitability and efficiency in all phases of its business; and commercial excellence, which mobilizes sales, marketing and innovation expertise to bring to market value-added products and services that provide competitive advantage to customers. Successful execution of this strategy will drive margin improvements and sustainable earnings growth.
PolyOne to Acquire TPE Custom Solutions Provider GLS Corporation
Transaction will advance specialization strategy, open new market opportunities
PolyOne Corporation, a leading global provider of specialized polymer materials, services and solutions, announced today that it has signed a definitive agreement to acquire GLS Corporation, the leading North American provider of specialty thermoplastic elastomer compounds ("TPE") for consumer and medical applications. GLS has annual sales of approximately $130 million. Terms of the pending transaction were not disclosed. However, PolyOne expects that the acquisition will be slightly accretive to earnings in the first year. Consummation of the transaction is subject to the satisfaction or waiver of customary closing conditions.
GLS Corporation is a global developer and marketer of innovative thermoplastic elastomers (TPEs) with business units in North America, Europe and the Far East.
GLS offers the broadest range of soft touch TPE materials in the industry. The company's cutting-edge materials are found in products for the consumer, medical, sports and leisure, automotive, lawn and garden, appliance, kitchen tool, power tool, personal care and industrial market segments.
GLS, founded in 1979, is based in McHenry, Illinois, about 45 miles northwest of Chicago. It is the global leader in the supply of application-specific, custom formulated soft and ultra-soft TPEs for injection molding and extrusion.
GLS is a family-owned company manufacturing in the USA and China with annual sales of around $130 million and some 1,200 customers worldwide.
GLS started operations in 1979, marketing Kraton compounds for Shell Chemical, and moved into custom formulation in 1984. It still makes Kraton compounds, and also makes standard and customised compounds using TPEs from BASF and DSM. It also has a joint development agreement with SABIC Innovative Plastics on the Softx range of hard plastic/soft TPE overmoulding combinations.
GLS recently struck a deal with Dow Chemical to build on Dow's Infuse olefin block copolymers to produce a new Dynalloy range of injection and blow moulding TPEs. GLS says it has expanded the existing property and application range of OBC technology with a silky soft touch, a wider range of flow characteristics in injection moulding, and the introduction of the blow mouldable grades. Dynalloy OBCs have advantages in their colorability, isotropic shrinkage, improved compression set and creep resistance, and flow characteristics enabling use in complex moulds with long flow paths.
August 05, 2008 PolyOne
Announces an Exclusive License Agreement with Battelle for
PolyOne Corporation, a premier provider of specialized polymer materials, services and solutions, announced today that it has entered into an exclusive license arrangement for a series of bio-based plasticizer technology patents owned by Battelle.
Soybean oil is used as a plasticizer and accounts for about three percent of the plasticizers used to make PVC.
The global market for
plasticizers is approximately $11 billion annually, with 90% of
all production consumed in vinyl-based formulations. Specialty
plasticizers currently account for about 20% of the market.
PolyOne will seek to develop differentiated specialty plasticizer
and vinyl compound offerings based in part on the technologies
covered by these patents.
“The world is looking for bio-based alternatives to materials traditionally derived from petroleum-based feedstock. The Battelle plasticizer technology, which was developed with early stage funding from Ohio Soybean Council as part of their strategic thrust to create new industrial markets for soybeans, shows great promise as a path to commercially viable renewable plasticizers,” said PolyOne’s Rob Rosenau, senior vice president and general manager, Geon Performance Polymers.
PolyOne is a global leader in compounding and formulation and is committed to expanding its position in specialized technologies that enhance the overall sustainability of its customers and the global community. PolyOne has specialty plasticizer manufacturing operations in Orangeville, Ontario and St. Remi, Quebec, Canada.
Battelle is the world’s largest non-profit independent research and development organization, providing innovative solutions to the world’s most pressing needs through its four global businesses: Laboratory Management, National Security, Energy Technology, and Health and Life Sciences. It advances scientific discovery and application by conducting $4 billion in global R&D annually through contract research, laboratory management and technology commercialization. Headquartered in Columbus, Ohio, Battelle oversees 20,400 employees in more than 120 locations worldwide, including seven national laboratories which Battelle manages or co-manages for the U.S. Department of Energy and the U.S. Department of Homeland Security. Battelle also is one of the nation’s leading charitable trusts focusing on societal and economic impact and actively supporting and promoting science and math education.
July 06, 2007
PolyOne sells Oxy Vinyls stake to Occidental for $261 mln
PolyOne Corp. said Friday it has sold its 24%
stake in Oxy Vinyls LP to Occidental Chemical Corp., a unit of Occidental
Petroleum Corp. , for $261 million.
PolyOne said it will retain the existing polyvinyl chloride resin and vinyl chloride monomer supply agreements that it entered into when Oxy Vinyls was formed.
In a related deal, PolyOne also said it will acquire OxyChem's 10% stake in PVC Powder Blends LP for $11 million, bringing PolyOne's ownership to 100%.
The company expects the transactions to result in an overall net book gain. Cleveland-based PolyOne said it will use the $261 million in proceeds to reduce debt, and as a result, the company expects interest costs in 2008 to be $25 million lower than in 2006. PolyOne shares rose 1.4% to $7.45 in Friday afternoon trade.
PolyOne Acquisition of Spartech Approved By Shareholders
PolyOne Corporation, a premier provider of specialized polymer materials, services, and solutions, today announced that Spartech shareholders have approved the merger agreement pursuant to which PolyOne will acquire Spartech Corporation, a leading producer of custom plastic sheet and rollstock and packaging solutions. PolyOne announced the agreement to acquire Spartech Corporation on October 24, 2012. The transaction will be officially completed on March 13, 2013.
October 24, 2012 PolyOne
PolyOne Accelerates Specialty Transformation With Agreement to Acquire Spartech
PolyOne Corporation, a premier provider of specialized polymer materials, services and solutions, and Spartech, a leading producer of plastic sheet, compounds and packaging solutions, today announced they have entered into a definitive agreement, under which PolyOne will acquire Spartech.
Under the terms of the agreement, Spartech stockholders will receive $2.67 in cash and 0.3167 shares of PolyOne common stock for each share of Spartech common stock. Based on the closing price of PolyOne shares on Tuesday, October 23, Spartech stockholders will receive cash and stock valued at $8.00 per Spartech common share, representing a total transaction value of approximately $393 million, including the assumption of Spartech's net debt of $142 million.
March 25, 2013
PolyOne Reaches Agreement to Sell Non-Core
Resin Assets for $250 Million
PolyOne Corporation, a premier provider of specialized polymer materials, services and solutions, announced it has entered into an agreement in which the company will sell its vinyl dispersion, blending and suspension resin assets to Mexichem, S.A.B. de C.V. for $250 million in cash. 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 2012.
"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, chairman, president and chief executive officer, PolyOne Corporation. "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."
April 09, 2013 PolyOne
PolyOne and Joint Venture Partner Juffali
Open Specialty Colorant Facility in Jeddah, Saudi Arabia
PolyOne Corporation, a premier global provider of specialized polymer materials, services and solutions, today announced that Juffali PolyOne Masterbatch Co. Ltd., a joint venture between PolyOne Corporation and E.A. Juffali & Brothers Limited, has opened their new production facility in Jeddah, Kingdom of Saudi Arabia. This new facility will help customers in the Middle East innovate and grow via local access to world-class specialty polymer colorants.
The opening of the new production facility is a logical extension of nearly 30 years of cooperation between the two companies, which became even stronger in October of 2011, when PolyOne and Juffali announced formation of the Juffali PolyOne Masterbatch joint venture. Juffali brings its local expertise in the region to the venture, and PolyOne provides its formulation technology and material science. The opening of this new facility was celebrated today in Jeddah with customers, local officials and senior leadership of both joint venture partner companies.
The new facility is focused on the production of specialty color concentrates and has the potential for expansion into other product lines in future phases.
About E.A. Juffali & Brothers Company Limited
E.A. Juffali & Brothers Company Limited is an established conglomerate in Saudi Arabia participating in numerous joint venture relationships with multi-national companies who are leaders in their respective industries such as Dow Chemical and other leading global companies. For more information, visit www.eajb.com.