PolyOne closing 2 plants in Brazil

By Frank Esposito
Senior Staff Reporter

Published: July 16, 2014 12:40 pm ET
Updated: July 16, 2014 12:43 pm ET

Image By: PolyOne Corp. Robert Patterson

Related to this story

Topics Materials, Materials Suppliers, South America
Companies & Associations PolyOne Corp.

Materials maker PolyOne Corp. is closing two of its four Brazilian plants in order to streamline operations and improve its financial performance in the region.

Avon Lake, Ohio-based PolyOne will close plants in Diadema and Joinville, while continuing to operate plants in Novo Hamburgo and Itupeva, officials said in a July 15 news release.

The firm will see cash costs of about $5 million related to the closings and $12 million in non-cash charges. In the release, President and CEO Robert Patterson said that the asset realignment will accelerate PolyOne’s specialty strategy in Brazil. Officials added that PolyOne will continue to invest in the Novo Hamburgo and Itupeva sites.

PolyOne ranks as North America’s largest compounder and concentrate maker and as one of the region’s largest resin distributors. The firm posted sales of $3.8 billion in 2013.


Comments

PolyOne closing 2 plants in Brazil

By Frank Esposito
Senior Staff Reporter

Published: July 16, 2014 12:40 pm ET
Updated: July 16, 2014 12:43 pm ET

Post Your Comments


Back to story


More stories

Image

PP prices rise, solid PS, PET drop

October 30, 2014 1:15 pm ET

North American polypropylene resin prices surged again in October, while regional prices for solid polystyrene and PET bottle resin continued their...    More

Image

Italian compounder opening first US plant

October 30, 2014 9:45 am ET

The song of the South has led Italian compounder So.F.Ter Group to open its first plant in the United States in Lebanon, Tenn.    More

Image

Ineos closing Barex plant, exiting business

October 29, 2014 3:58 pm ET

Materials maker Ineos Group is closing its only global Barex-brand polyacrylonitrile (PAN) resin plant in Lima, Ohio. Ineos – based in Rolle,...    More

Image

DSM picks Augusta, Ga., for nylon plant

October 29, 2014 11:49 am ET

Materials firm Royal DSM NV has chosen Augusta, Ga., as the site of its new North American nylon resin plant.    More

Image

Teknor Apex expands production of recycled nylon to Europe

October 29, 2014 10:12 am ET

Materials firm Teknor Apex Co. is making its recycled nylon compounds available in Europe for the first time.    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

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events