MOSCOW (MRC) -- PolyOne, a premier global provider of specialized polymer materials, services and solutions, has begun building a new facility in Pune, India, that will manufacture specialty materials, including solid masterbatch, liquid colorant and additives, reported the company on its site.
"With advanced design capabilities and enhanced manufacturing flexibility, we will offer customers in India an even broader array of solutions and improved delivery times," said Vikas Vij, managing director for PolyOne's operations in India.
"Demand for advanced specialty solutions in India is increasing - particularly in automotive, packaging, wire and cable and healthcare - and our expanded presence will position PolyOne exceptionally well to collaborate with and serve our customers."
The facility will operate development labs and the sales and customer service center for the region. It is expected to open in the first quarter of 2014.
"Consistent with PolyOne's globalization strategy, our investment in India augments other recent announcements, including a new joint venture specialty colorant facility in Jeddah, Saudi Arabia, and plans to begin thermoplastic elastomer production in Sao Paulo, Brazil," said Robert M. Patterson, executive vice president and chief operating officer for PolyOne, which describes itself as a global provider of specialized polymer materials, services and solutions.
As MRC wrote previously, PolyOne Corporation announced it will realign its North American manufacturing assets. This company will relocate is assets in order to better serve customers, improve efficiency, and deliver previously announced synergy-related cost savings in connection with its March 2013 acquisition of Spartech Corporation. Over the next several months, the company will close six manufacturing plants and relocate production to other PolyOne facilities. These actions are expected to be completed by the end of 2014 and generate annualized pre-tax savings of approximately USD25 million in 2015. Cash costs are expected to approximate USD45 million over the next 12-18 months, primarily related to severance, asset relocation and additional capital investment.
PolyOne Corporation, with 2012 revenues of USD2.9 billion, is a premier provider of specialized polymer materials, tailored services and end-to-end solutions.
MRC