IHS Chemical Week

PolyOne to close six Spartech facilities, cut staff

11:29 AM MDT | July 16, 2013

PolyOne (Cleveland, OH) will soon begin closing six facilities obtained in the March 2013 acquisition of Spartech, the company announced 16 July. PolyOne aims to complete the shut downs by the end of 2014 for annual savings of $25 million. "These actions are entirely consistent with our previously announced plans to integrate PolyOne and Spartech and to accelerate our specialty transformation," says Stephen Newlin, chairman and CEO of PolyOne. "We are committed to delivering at least $65 million of synergies from the Spartech acquisition and [50 cts/share...

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