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US compounder and distributor PolyOne increased by 33% year-on-year in 2011

February 21/2012

(plasteurope) -- Operating profit at US compounder and distributor PolyOne (Cleveland) increased by 33% year-on-year in 2011 to USD 233m on sales up 9% year-on-year at USD 2.9 bn. However, operating profit in the specialty engineered materials segment fell to USD 45.9m from USD 49.7m in 2010, on sales of USD 575m, up 11% year-on-year.

Operating profit in the companys specialty platform, which includes the specialty engineered materials and colour, additives and inks segments, reached a record high of USD 89.3m, up 2% year-on-year, on sales of USD 1.12 bn, up 7%. Operating profit in the distribution segment also reached a high, up 33% at USD 56m on sales up 9% at USD 996m.

Stephen Newlin, PolyOne chairman, president and CEO said that 2011 was a critical inflection point in the companys transformation into a specialty producer. During the year, it completed the acquisitions of Brazilian specialty engineering plastics producer and distributor Uniplen Industria de Polimeros (Uniplen, Sao Paolo)  and leading liquid colorant, additive and fluoropolymer producer ColorMatrix (Berea, Ohio / USA). The company also divested chlorine and caustic soda commodity manufacturer SunBelt during 2011.

"Looking at 2012, we expect another year of record adjusted earnings per share. However, growth rates may decelerate given the current economic environment,"Newlin said. "While a slowdown in the European economy and a weaker euro pose near term headwinds, we remain extremely optimistic about our medium to long-term growth prospects."

Author:Anna Larionova
Category:General News
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