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Mexichem completes acquisition of PolyOne’s vinyls resin assets
7:57 AM MDT | May 31, 2013 | Deepti Ramesh
PolyOne says it has completed the previously announced sale of its vinyl dispersion, blending, and suspension resin assets to Mexichem (Tlalnepantla, Mexico), for $250 million in cash. PolyOne expects after-tax proceeds of about $150 million and to recognize an after-tax gain on the sale of about $140 million. Assets transferred in the sale were those related to resin production and included manufacturing plants at Pedricktown, NJ; Henry, IL; and a resin research facility at Avon Lake, OH. PolyOne will continue to own and operate its Geon performance materials...
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