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Chemical Week Magazine :: Business & Finance :: United States/Americas

PolyOne to close six Spartech facilities and cut 250 staff

11:15 AM MDT | July 26, 2013 | —Clay Boswell and Vincent Valk

PolyOne will close six former Spartech facilities in Indiana, Illinois, Wisconsin, Missouri, Pennsylvania, and Louisiana by the end of 2014, the company says. The closures are expected to cut costs by $25 million/year. “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 earnings...

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