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LONDON, UK / ACCESSWIRE / June 5, 2018 / If you want access to our free research report on PolyOne Corp. (NYSE: POL), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=POL as the Company's latest news hit the wire. On June 01, 2018, the Company announced the acquisition of PlastiComp, Inc. The financial details and other terms of the acquisition were not disclosed by any of the two Companies. The acquisition is expected to expand PolyOne's offerings in LFT-based materials and advanced composites. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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The current transaction is the second strategic acquisition by PolyOne. Earlier in January 2018, the Company had announced the acquisition of Spanish Company, IQAP Masterbatch Group S.L. ("IQAP"). IQAP is a privately-owned manufacturer of specialty colorants and additives. The acquisition is expected to expand the global footprint and strengthen PolyOne's specialty colorants and additives business.
About PlastiComp, Inc.
Winona, Minnesota-based PlastiComp was founded in 2003 and was started by composite pioneer Stephen Bowen. PlastiComp is an advanced engineered materials innovator and producer of specialty composites. The Company develops and manufactures customized long fiber reinforced thermoplastic composite solutions to meet the application specific requirements for structural performance. The Company's products, manufactured using unique and complex long fiber technology (LFT) composite formulations, can easily replace metal and lightweight products. LFT-based materials are known for their high strength and stiffness, design freedom, fatigue endurance, corrosion and wear resistance, EMI shielding, and recyclability.
PlastiComp's Complēt® product range is used globally by its customers in a wide-range of demanding applications, including medical devices, robots and drones, marine, and outdoor high-performance equipment.
Once the acquisition transaction is completed, PolyOne plans to integrate PlastiComp's business into its Specialty Engineered Materials segment. This includes PlastiComp's 50 employees, as well as its design and production facility in Winona, Minnesota.
Commenting on the acquisition of PlastiComp, Robert M. Patterson, Chairman, President, and Chief Executive Officer (CEO) of PolyOne, said:
"I'm thrilled to welcome Steve, the PlastiComp employees, and their valued customers to the PolyOne team. We are very excited to accelerate commercial and operational investments to further expand this important composite technology as part of our advanced composites portfolio."
Stephen T. Bowen, President and CEO of PlastiComp, added:
"PolyOne's comprehensive approach to design, service, and innovation in thermoplastics and composites will enable us to forge even further ahead with our LFT technology, and I'm excited that our teams have joined together in collaboration for the future."
About PolyOne Corp.
Avon Lake, Ohio-based PolyOne is a premier provider of specialized polymer materials, services, and solutions. Its services and solutions include specialty polymer formulations, color and additive systems, packaging solutions, and polymer distribution. The Company offers its expertise in color and design, manufacturing and production, as well as prototyping and part analysis across the US, Europe, and Asia. PolyOne is an ACC Responsible Care® certified Company committed to its customers, employees, communities, and shareholders through ethical, sustainable, and fiscally-responsible principles. The Company reported revenues of $3.2 billion for FY17.
Stock Performance Snapshot
June 04, 2018 - At Monday's closing bell, PolyOne's stock was slightly up 0.49%, ending the trading session at $42.67.
Volume traded for the day: 413.72 thousand shares, which was above the 3-month average volume of 334.73 thousand shares.
Stock performance in the last month – up 3.49%; previous three-month period – up 0.26%; and past twelve-month period – up 11.12%
After yesterday's close, PolyOne's market cap was at $3.43 billion.
Price to Earnings (P/E) ratio was at 19.67.
The stock has a dividend yield of 1.64%.
The stock is part of the Basic Materials sector, categorized under the Specialty Chemicals industry.
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