CLEVELAND (April 11)—M.A. Hanna Co. has sold for an undisclosed price its Diversified Polymer Products business in Dyersburg, Tenn., to an investment group that includes members of the management team. The new owner will rename the business Colonial Diversified Polymer Products L.L.C. and maintain operations in Dyersburg. The unit makes cellular rubber products such as automotvie air, water and sound seals. It had sales of $14 million in 1999 and employs about 200.