| Type | Public |
|---|---|
| Traded as | NYSE: POL |
| Industry | Chemicals/Plastics |
| Founded | 2000 |
| Headquarters | Avon Lake, Ohio |
| Key people | Stephen D. Newlin, CEO |
| Products | Specialty polymer materials and compounds |
| Revenue | $2.6 billion (2010) |
| Employees | 4,000 (2010) |
| Website | http://www.polyone.com |
PolyOne Corporation (NYSE: POL) is a global provider of specialized polymer materials, services, and solutions. PolyOne has operations in thermoplastic compounds, specialty polymer formulations, color and additive systems, thermoplastic resin distribution, and vinyl resins.[1] In 2010, PolyOne was ranked the #1 in the “Top North American Compounders” list by Plastics News.[2]
Headquartered in Avon Lake, Ohio, a suburb of Cleveland, PolyOne had annual revenue of $2.6 billion in 2010, with manufacturing sites and distribution facilities located in North America, Europe, Asia, and South America.[3] PolyOne employs approximately 4,000 people and operates more than 60 manufacturing and distribution facilities in 20 different countries. The company offers more than 36,000 polymer solutions to over 10,000 customers globally. In 2010, 34% of total sales were from customers outside of the United States.
Contents |
PolyOne’s business is made up of three strategic platforms, including: Specialty (comprising Global Specialty Engineered Materials and Global Color, Additives, and Inks), Performance Products and Solutions, and PolyOne Distribution. PolyOne’s Global Specialty Engineered Materials segment offers custom plastic formulations, and compounding services and solutions for processors of thermoplastic materials across various markets and end-use applications, as well as provides high-performance polymer compounds. The company’s Global Color, Additives, and Inks segment provides specialized color and additive concentrates, as well as inks and latexes. The Performance Products and Solutions segment offers vinyl compounds, vinyl resins, and specialty coating materials based on vinyl to various manufacturers of plastic parts and consumer-oriented products, as well as provides materials testing and component analysis, custom compound development, colorant and additive, design assistance, structural analysis, process simulations, and extruder screw design services. The PolyOne Distribution segment distributes engineering and commodity grade resins to custom injection molders and extruders.[4]
PolyOne provides value to customers through its ability to link its knowledge of polymers and formulation technology with its manufacturing and supply chain to provide an essential link between large chemical producers (raw material suppliers) and designers, assemblers, and processors of plastics (molders and extruders). PolyOne’s primary end markets include healthcare, electrical and electronics, sustainable and biomaterials, durable goods, transportation, building and construction materials, packaging, wire and cable, textiles, and industrial applications.[5]
PolyOne was formed on August 31, 2000 from the consolidation of The Geon Company (Geon) and M.A. Hanna Company (Hanna). The merger between M.A. Hanna Company and The Geon Company in 2000 produced PolyOne Corporation, a Fortune 1000 company.[6] Geon’s roots date back to 1927 when BFGoodrich scientist Waldo Semon produced the first usable vinyl polymer. In 1948, BFGoodrich created a vinyl plastic division that was subsequently spun off through a public offering in 1993, creating Geon, a separate publicly held company. Hanna was formed in 1885 as a privately held company and became publicly held in 1927. In the mid-1980s, Hanna began to divest its historic mining and shipping businesses to focus on polymers. Hanna purchased its first polymer company in 1986 and completed its 26th polymer company acquisition in 2000.
1885 – M.A. Hanna Company formed as a privately held company focused on mining and shipping
1927 – BF Goodrich scientist Waldo Semon produces the first usable vinyl polymer, marketed under the trade name “Geon”
1933 – Waldo Semon granted US Patent for PVC (U.S. Patent No. 1929453)[7]
1948 – BF Goodrich creates a vinyl plastic (PVC) division
1986 – M.A. Hanna Company, now a publicly traded company, divests its mining and shipping business to focus on polymers. Hanna purchased its first polymer company this year.
1993 – BF Goodrich spun off its vinyl plastic division through a public offering, creating The Geon Company
2000 – PolyOne formed on August 31, 2000 from the merger between [[M.A. Hanna Company] and The Geon Company
2007 – PolyOne acquires GLS Corp., a world leader in high-performance custom-formulated thermoplastic elastomers (TPEs) based in McHenry, IL.[8]
2009 – PolyOne listed as #731 on the Fortune 1000 list and included in the S&P 600 investment index[9]
2009 – PolyOne acquires NEU (New England Urethane), a high-performance engineered thermoplastic formulator for the healthcare market, located in New Haven, CT[10]
2010 – PolyOne wins the Process Excellence Award for World’s Best Lean Six Sigma deployment[11]
2010 – PolyOne helps create an eco-friendly engine cover for the award-winning Ford Fusion Hybrid[12]
2011 – PolyOne opens Innovation Center in its Avon Lake, OH headquarters to support customers with application development, testing, process optimization, and color matching[13]
2011 – PolyOne declares quarterly stock dividend for the first time in 9 years[14]
2011 – PolyOne boosts its presence in South America by acquiring Uniplen Industria de Polimeros Ltda. and Polimaster, both based in Brazil[15]