PolyOne buys Spartech for $393M

By Frank Esposito
Senior Staff Reporter

Published: October 29, 2012 6:00 am ET

Plastics News senior reporter Frank Esposito

Related to this story

Topics Materials, Suppliers

AKRON, OHIO (Oct. 29, 12:20 p.m. ET) — PolyOne Corp.’s acquisition of Spartech Corp. for almost $400 million is featured in this week’s Material Insights video.

PolyOne — North America’s largest compounder — is paying $393 million for Spartech, a leading plastic sheet maker that also operates a sizable compounding unit. The deal moves PolyOne into downstream products and includes PolyOne taking on $142 million in Spartech debt.

Major global job cuts from Dow Chemical Co. and DuPont Co. also are featured in this week’s video. Dow is cutting 2.400 worldwide, while DuPont is eliminating 1,500 positions. The impact of the cuts on the firms’ plastics units are unclear. Poor third-quarter financial results — primarily in Europe and Asia — were cited as reasons for the cuts. DuPont officials also cited weakness in titanium dioxide, a material used as a whitener in plastics and other products.

The video wraps up with news that compounder A. Schulman Inc. posted higher profit in its just-completed 2012 fiscal year. Schulman’s profit for the year rose 27 percent to $52 million, even as sales fell almost four percent to just over $2.1 billion. Schulman also spent almost $100 million on two acquisitions during the fiscal year.

Player adds pre-roll mathelin bay ad, to single-video player. For use on PN article embedding.

By use of this code snippet, I agree to the Brightcove Publisher T and C

found at https://accounts.brightcove.com/en/terms-and-conditions/.

—>

This script tag will cause the Brightcove Players defined above it to be created as soon

as the line is read by the browser. If you wish to have the player instantiated only after

the rest of the HTML is processed and the page load is complete, remove the line.

—>


Comments

PolyOne buys Spartech for $393M

By Frank Esposito
Senior Staff Reporter

Published: October 29, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Akro-Plastic buying German subsidiary from Metabolix

October 24, 2014 3:32 pm ET

Akro-Plastic GmbH, a Niederzissen, Germany-based plastic compounder, has purchased the assets of Metabolix Inc.'s subsidiary in Germany.    More

Image

Automation firms join forces, look to automotive for future growth

October 24, 2014 2:43 pm ET

Hoping to ease the way for automation in some specialized areas of automotive plastics like laser cutting of door panels, a German robot maker and an ...    More

Image

German export sales strong, push for energy savings continues

October 24, 2014 12:34 pm ET

Germany is the engine that drives the European economy — and when it comes to the plastics industry, German machinery is a potent force, an...    More

Image

Arburg expands presence in China

October 24, 2014 11:34 am ET

German machinery maker Arburg GmbH + Co KG has expanded its office in Shenzhen, China, making it the company's first competence center for automation ...    More

Image

BASF pre-tax earnings rise, but will miss financial targets for 2015

October 24, 2014 10:16 am ET

BASF SE has raised its expectations for pre-tax earnings in 2014 but warned that it would not hit its financial targets for next year.    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events