MOSCOW (MRC) -- PolyOne Corporation, a premier global provider of specialized polymer materials, services and solutions, has begun production at a new facility in Turkey, as per the company's statement.
The operations feature enhanced capabilities to better serve customers with an expanding portfolio of specialty polymer formulations.
The facility is located in Istanbul and provides high-level production, service and flexibility characteristics required by PolyOne's customers.
"Demand for PolyOne solutions and service in Turkey continues to increase," said Holger Kronimus, vice president of Europe, PolyOne Corporation. "These investments will further enable PolyOne's growth by providing customers a broader portfolio of offerings and even more efficient delivery times."
According to Pagev, the Turkish plastics industry association, the domestic plastics industry is growing at more than 10% per annum. "Turkey is one of the fastest growing markets for thermoplastics in the world, and the specialty polymer solutions formulated by PolyOne deliver on the needs of original equipment manufacturers and plastics processors throughout the region," added Mr. Kronimus.
As MRC informed before, in June, PolyOne completed the previously-announced sale of its vinyl dispersion, blending and suspension resin assets to Mexichem for USD250 million in cash. The sale of PolyOne's last remaining resin production assets marks an important milestone in the company's ongoing specialty transformation that began in 2006, according to top officials.
PolyOne Corporation is a global provider of specialized polymer materials, services, and solutions. 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. The company's full-year revenues in 2012 increased 4.5% to USD3.0 billion, compared to USD2.9 billion in 2011.
MRC