PolyOne Corporation

PolyOne Corporation
Public
Traded as NYSE: POL
Industry Chemicals/Plastics
Founded 2000
Headquarters Avon Lake, Ohio
Key people
 Robert M. Patterson, CEO
Products Specialty polymer materials and compounds
Revenue $3.8 billion (2014)
Number of employees
 7,300(2014)
Website http://www.polyone.com

PolyOne Corporation 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]

PolyOne is incorporated in Ohio and headquartered in Avon Lake, Ohio. They employ approximately 7,300 people and have 60 manufacturing sites and 9 distribution facilities in North America, Europe, Asia and South America. PolyOne offers more than 52,000 polymer solutions to over 14,000 customers across the globe. In 2014, they had sales of $3.8 billion, 35% of which were to customers outside the United States.[3]

The company

PolyOne is a provider of specialized polymer materials, services and solutions with operations in specialty polymer formulations, color and additive systems, polymer distribution and specialty vinyl resins. They are also a highly specialized developer and manufacturer of performance enhancing additives, liquid colorants, and fluoropolymer and silicone colorants. Headquartered in Avon Lake, Ohio, PolyOne has employees at manufacturing sites and distribution facilities in North America, South America, Europe and Asia. They provide value to customers through their ability to link their knowledge of polymers and formulation technology with their manufacturing and supply chain capabilities to provide value added solutions to designers, assemblers and processors of plastics (their customers).

They operate in four reportable segments: (1) Global Specialty Engineered Materials; (2) Global Color, Additives and Inks; (3) Performance Products and Solutions; and (4) PolyOne Distribution. In February 2011, they sold their 50% equity interest in SunBelt Chlor Alkali Partnership (SunBelt), which was a reportable segment in prior periods.[4]

History

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.[5] 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.

Significant historical events

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)[6]

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 maker of high-performance custom-formulated thermoplastic elastomers (TPEs) based in McHenry, IL.[7]

2009 – PolyOne listed as #731 on the Fortune 1000 list and included in the S&P 600 investment index[8]

2009 – PolyOne acquires NEU (New England Urethane), a high-performance engineered thermoplastic formulator for the healthcare market, located in New Haven, CT[9]

2010 – PolyOne wins the Process Excellence Award for World’s Best Lean Six Sigma deployment[10]

2010 – PolyOne helps create an eco-friendly engine cover for the award-winning Ford Fusion Hybrid[11]

2011 – PolyOne opens Innovation Center in its Avon Lake, OH headquarters to support customers with application development, testing, process optimization, and color matching[12]

2011 – PolyOne declares quarterly stock dividend for the first time in 9 years[13]

2011 – PolyOne boosts its presence in South America by acquiring Uniplen Industria de Polimeros Ltda. and Polimaster, both based in Brazil[14]

2011 - PolyOne completed the acquisition of all of the outstanding equity of ColorMatrix for $486.1 million net of cash acquired on a debt-free basis.[15]

Products

Services

References

  1. ↑ 2010 PolyOne Annual Report
  2. ↑ http://www.plasticsnews.com/rankings/compounders.html
  3. ↑ http://www.polyone.com/en-us/investors/Pages/AnnualReport.aspx
  4. ↑ http://www.polyone.com/en-us/investors/Pages/AnnualReport.aspx
  5. ↑ Case Western Reserve, Encyclopedia of Cleveland History: M. A. Hanna
  6. ↑ http://www.invent.org/hall_of_fame/131.html
  7. ↑ http://www.glstpes.com/pdf/news/GLS_PolyOne_Release-Final.pdf
  8. ↑ http://money.cnn.com/magazines/fortune/fortune500/2009/snapshots/5021.html
  9. ↑ http://www.chemweek.com/sections/specialty_chemicals/PolyOne-Acquires-NEU_23962.html
  10. ↑ http://www.bizjournals.com/dayton/prnewswire/press_releases/Ohio/2010/01/22/CL42248
  11. ↑ http://www.omnexus.com/news/news.aspx?id=24668
  12. ↑ New York Times Article on Avon Lake Innovation Center
  13. ↑ http://online.wsj.com/article/PR-CO-20110511-911831.html
  14. ↑ http://www.plasticsnews.com/headlines2.html?id=22215
  15. ↑ http://www.polyone.com/en-us/investors/Pages/AnnualReport.aspx

External links