PolyOne Corporation (POL) recently said that Finland-based leading light-emitting diode (:LED) lighting systems maker, Kruunutekniikka Oy, has chosen its Therma-Tech thermal management solutions as a replacement to aluminum in the latter’s Coolics LED light fixtures. The specialty polymer materials maker noted that its solutions will allow Kruunutekniikka Oy to optimize its manufacturing processes and improve productivity.
LEDs are better alternatives to other lighting options, such as fluorescent and incandescent bulbs, as they save energy by 30%-80% and releases less heat. However, effective management of the heat generated by LEDs is critical in retaining useful life and energy efficiency.
The Therma-Tech thermal management solutions effectively manages heat and offers design flexibility, lower weight and processing ease of traditional thermoplastics, thereby enabling users to achieve their manufacturing efficiency targets. Adoption of these metal-replacement solutions have been growing for applications in thermal management components including the socket, cooling heat sink, transfer pad and LED lighting fixtures.
Cleveland, Ohio-based PolyOne is a leading provider of specialized polymer materials, services and solutions. The company, which has annual sales of $2.9 billion, has operations across the globe.
PolyOne, in July, posted second-quarter 2012 adjusted earnings of 37 cents a share, topping the Zacks Consensus Estimate of 33 cents and exceeding the year-ago earnings of 31 cents. Revenues rose 3% year over year to a record $792 million. The results were boosted by the contributions of the acquisition of ColorMatrix Group, Inc. The company saw higher margins across North America and Asia in the quarter.
PolyOne, in December 2011, acquired ColorMatrix, a highly specialized company with a leading market position in liquid colorants. The acquisition allowed the company to harness its potential in the specialty business and expand globally.
Despite a weak European economy, PolyOne continues to expect to deliver record adjusted earnings per share in 2012 on the back of its strong execution and synergies of ColorMatrix acquisition. The company will report its third quarter results on October 25.
PolyOne currently retains a Zacks #3 Rank, which translates into a short-term Hold rating.
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